Billionaire John Malone continues to circle Lionsgate.
Lions Gate Entertainment Corp., the parent of the Santa Monica television and film studio, said Tuesday that it was selling 6.8% of its shares to two companies: Discovery Communications and Liberty Global.
Malone holds a significant stake in both Discovery and Liberty Global.
Discovery and Liberty Global each will pay about $195 million for a 3.4% stake in Lions Gate, according to the companies.
In addition, Discovery and Liberty Global will enter into separate licensing agreements with Lionsgate to secure the rights to some of studio's television series and movies.
Lionsgate has established itself as a...