(Reuters) MGM Holdings Inc said it would acquire the 81 percent of premium U.S. channel Epix it does not already own from two of its partners, Viacom Inc and Lionsgate Entertainment Corp, for about $1 billion.The deal is expected to boost MGM’s TV business as it seeks to build a stronger platform to distribute its content.Viacom currently owns half of Epix, while Lionsgate has a 31.2 percent stake.
Epix, whose shows include “Berlin Station” and “Graves,” has about 14 million subscribers, according to research firm SNL Kagan.Paramount Pictures and Lionsgate will continue to provide their first-run theatrical releases to Epix under multi-year agreements, the companies said in a joint statement.
