Legendary considers takeover of Lionsgate Studios, Bloomberg says

Legendary Entertainment, which is backed by Apollo Global (APO), is considering a takeover of Lionsgate Studios (LION), Thomas Buckley and Lucas Shaw of Bloomberg report, citing people familiar with the matter. Legendary first approached Lionsgate after the company Lionsgate finalized its separation from the Starz Entertainment in May, sources told Bloomberg. The talks centered on a potential partnership to produce films so that Legendary could see how the companies worked together and whether it should ultimately proceed with a takeover offer, the people said. Shares of Lionsgate are up 9%, or 50c, to $6.34 following the report.