Recent Updates — STRZ
Starz Entertainment Corp. reported financial results for the third quarter ended September 30, 2026, with total revenue reaching $322.4 million, up from $320.9 million in the prior-year period. Adjusted OIBDA more than doubled year-over-year to $44.2 million, compared to $21.8 million previously. The company reported a net loss of $34.8 million and operating cash flow of $18.9 million. Starz reaffirmed its 2026 outlook for mid-single-digit Adjusted OIBDA growth and unlevered free cash flow between $100 million and $120 million, while reiterating a target adjusted OIBDA leverage ratio of approximately 2.7x by year-end. The company operates in the premium entertainment industry, providing original programming and movies via OTT platforms and multichannel video distributors.
Starz Entertainment Corp. entered into an employment agreement with Scott Macdonald, effective October 1, 2026, confirming his role as Chief Financial Officer through September 30, 2028, with a potential one-year extension. The contract establishes an annual base salary of $1,060,000 and a target bonus equal to 125% of that salary. Macdonald is eligible for annual equity awards valued at 70% of his base salary, vesting over three years. In the event of a qualifying termination, he receives 18 months of cash severance and COBRA premiums. The company operates in the entertainment industry, providing streaming and television content services.
Starz Entertainment Corp. announced that its subsidiary, Starz Entertainment LLC, entered into an employment agreement with Jason Wyrick on October 1, 2026. Mr. Wyrick will continue serving as Executive Vice President, Technology, with a new term running through September 30, 2028, subject to a one-year extension option. The agreement establishes an annual base salary of $735,000 and a target bonus opportunity equal to 90% of his base salary. He is eligible for annual equity awards targeting 50% of his base salary, vesting over three years. Severance provisions include 18 months of base salary and COBRA premiums upon qualifying termination, with accelerated equity vesting in the event of a change in control followed by termination. Starz Entertainment Corp. operates as a premium entertainment company providing streaming and television content services.
Starz Entertainment Corp. announced that its subsidiary entered into a new employment agreement with Alison Hoffman, President of Starz Networks, effective August 6, 2026, and expiring December 31, 2029. The contract establishes an annual base salary of $1,485,000 and a target bonus opportunity equal to 150% of her base salary. It provides for annual equity awards with a target value of 100% of base salary in 2027, 2028, and 2029, subject to Compensation Committee approval. Severance provisions include cash payments based on the greater of remaining term or eighteen months of salary upon qualifying termination, plus COBRA premiums for up to eighteen months. A change-in-control scenario triggers an additional lump-sum payment equal to 70% of severance and acceleration of unvested equity awards. The company operates in the entertainment industry, providing streaming video-on-demand services.
On August 12, 2026, Starz Entertainment Corp. entered into Amendment No. 1 and Incremental Amendment to its Credit Agreement with JPMorgan Chase Bank, N.A. The amendment increased revolving credit commitments by $33 million and incurred an additional $67 million in senior secured term loans. Post-amendment, total revolving credit commitments stand at $183 million and term loans at $367 million. The company borrowed the full amount of the incremental term loans to fund working capital and general corporate purposes. Starz Entertainment Corp. operates in the entertainment industry, providing premium television content through its streaming service.
Starz Entertainment Corp. reported second-quarter 2026 financial results on August 7, 2026, generating $307.9 million in revenue and an Adjusted OIBDA of $59.9 million. The company recorded a significant operating loss of $(175.5) million, primarily driven by a non-recurring restructuring charge of $151.2 million that included $147.2 million in programming contract termination fees. Starz raised its 2026 outlook for Adjusted OIBDA growth from low-single-digits to mid-single-digits and increased its Unlevered Free Cash Flow forecast to the mid-to-upper end of the previous range, while reaffirming a year-end leverage target of approximately 2.7x. The company operates in the premium entertainment industry, providing original series, movies, and sports content via over-the-top streaming platforms and multichannel video distributors.