Legendary bids $3.5 billion for Lionsgate Studios

Legendary Entertainment has submitted a $3.5 billion takeover offer for Lionsgate Studios, including $1.9 billion in debt, according to a Bloomberg report cited by Variety on 20 October 2026. The bid covers the standalone studio after the Starz separation in May 2025, Variety reported. Both companies declined to comment, Variety reported.