Lionsgate Studios Corp. shares rise 8.83% after-hours as Apollo-backed Legendary considers acquisition.

Lionsgate Studios Corp. rose 8.83% in after-hours trading, with the company being valued for acquisition by Apollo-backed Legendary. The acquisition includes Lions Gate Entertainment Corp.'s film and television studio activities and the global subscription platform STARZ. The company's segments include film, television production, and multimedia networks, with the Motion Picture and Television Production segments collectively referred to as Studio Business. The Motion Picture segment involves the development and production of feature films, the acquisition of distribution rights in North America and globally, the distribution of produced and acquired feature films in North American theaters, home entertainment, and television, and the worldwide licensing of distribution rights.