Lionsgate Shares Rise More Than 9 Percent on European Buyer Interest Reports, Though Bollore Withdraws and Deal Remains Uncertain

Lionsgate shares jumped more than 9 percent after reports that the studio is assessing interest from buyers in Europe. Reuters reported that Lionsgate has been working with an investment bank to evaluate potential suitors. Lionsgate declined to comment.

Shares reached an intraday high of $14.79 before closing the session at $14.07, lifting the company's market value above $4 billion. Banijay, which completed its purchase of All3Media the prior week, was identified among the parties showing interest. Mediawan was also cited as a potential buyer.

Bollore, the French group that owns Canal+, was initially named as a possible suitor before reports indicated it would not submit a bid. Sources told Reuters that any transaction remains uncertain and that Lionsgate could stay independent. The reports emerged amid wider media industry consolidation and followed earlier speculation about Netflix interest that the streamer denied.

Lionsgate chief executive Jon Feltheimer has previously stated that the studio lacks the scale of major Hollywood players.