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A deal could be announced as soon as Thursday, the source
said, asking not to be named because the matter is private.
Lions Gate is planning to pay more than $30 per share in cash
and stock for Starz, the person said, adding that a transaction
has not been finalized and talks could still fall apart.
Lions Gate and Starz could not be reached for comment late
Wednesday.
The two companies had held on and off talks for more than a
year. Starz was spun off from Malone's Liberty Media Corp in
2013.
Since then there have been reports the company has been in
merger talks with a range of media companies, from Twenty-First
Century Fox to CBS Corp and AMC Networks Inc.
Starz, which competes with HBO and Showtime, also develops
original programming such as "Power," a drama about a New York
City drug dealer and "Outlander," a fantasy series.
Lions Gate and Malone own shares in Starz, while Malone is also
a Lions Gate shareholder who sits on its board.
Bloomberg reported earlier on Wednesday that a deal was
imminent.
(Reporting by Liana Baker in San Francisco; Editing by Gopakumar
Warrier)
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