Lions Gate is talking to many people about a possible merger, vice chair says
Lions Gate Vice Chairman Michael Burns said the company is talking to many people about a possible merger. While he wouldn't make clear who the company is talking to, he told CNBC, "We would talk to anybody at any time" about a potential merger."We're very interested in the consolidation space," he said."Obviously that's something very important to us." The most-likely contenders include Verizon Wireless (NYSE: VZ) , Comcast (NASDAQ: CMCSA) , the parent company to NBCUniversal, and Amazon (NASDAQ: AMZN) . "I could never say specifically who we're talking to," he said on " Fast Money " Wednesday night. "But we talk to everybody all the time. We are now a $7 billion market cap company. We're a pint-sized bite for some of these giant market cap companies. Our job is to create shareholder value, enhance shareholder value. So we would talk to anybody at any time and see if a deal makes sense." As merger talks heat up in the media space, many believe Lions Gate Entertainment (NYSE: LGF.A) , the movie and television company, is the next target. While he said he "wouldn't pick a potential favorite partner," he did say a deal with Amazon would make sense."We're doing a lot of business with them," he said of Lions Gate movie releases with the tech giant, including last year's The Big Sick and 2016's Manchester by the Sea. "We think there's more and more to do with them." Lions Gate Vice Chairman Michael Burns said the company is talking to many people about a possible merger. While he wouldn't make clear who the company is talking to, he told CNBC, "We would talk to anybody at any time" about a potential merger. "We're very interested in the consolidation space," he said. "Obviously that's something very important to us." The most-likely contenders include Verizon Wireless (NYSE: VZ) , Comcast (NASDAQ: CMCSA) , the parent company to NBCUniversal, and Amazon (NASDAQ: AMZN) . "I could never say specifically who we're talking to," he said on " Fast Money " Wednesday night. "But we talk to everybody all the time. We are now a $7 billion market cap company. We're a pint-sized bite for some of these giant market cap companies. Our job is to create shareholder value, enhance shareholder value. So we would talk to anybody at any time and see if a deal makes sense." As merger talks heat up in the media space, many believe Lions Gate Entertainment (NYSE: LGF.A) , the movie and television company, is the next target. While he said he "wouldn't pick a potential favorite partner," he did say a deal with Amazon would make sense. "We're doing a lot of business with them," he said of Lions Gate movie releases with the tech giant, including last year's The Big Sick and 2016's Manchester by the Sea. "We think there's more and more to do with them."
More From CNBC