STARZ ENTERTAINMENT CORP /CN/

Starz Entertainment Corp. reported a net loss of $(164.9) million for the first quarter of 2026, an increase from $(153.0) million in the prior year, as total revenue declined 7.2% to $306.9 million. The company's operating loss also widened to $(152.8) million, driven by increased programming amortization and significant content impairments totaling $128.1 million as part of its strategic content review. Despite the losses, Starz saw a positive shift in operating cash flow, providing $73.2 million compared to a cash outflow in the previous year, and its cash and cash equivalents significantly increased to $102.1 million.

Starz Entertainment Corp. reported its first-quarter 2026 financial results, highlighting a structurally stronger company one year post-separation. The company delivered positive operating cash flow of $73.2 million and sequentially growing OTT revenue of $211.1 million and Adjusted OIBDA of $58.0 million. Management accelerated its 20% Adjusted OIBDA margin outlook to the second half of 2027, one year ahead of prior guidance, and reiterated all 2026 outlook targets.

Starz Entertainment Corp. announced that Audrey Lee, Executive Vice President and General Counsel, will retire effective May 1, 2026. Following her retirement, Ms. Lee will be available for consultation through May 31, 2026. In connection with her departure, she will receive a separation package including a lump-sum cash payment of $1,226,077.36, an additional $858,254.15, COBRA premium payments for up to 18 months, and accelerated vesting of her outstanding equity awards.