Liberty 77 boosts Lionsgate Studios stake above 36 M shares with fresh buys

Rhea-AI Filing Summary

Lionsgate Studios Corp. (LION) – Form 4 insider activity

Liberty 77 Capital L.P. and related entities, all controlled by former U.S. Treasury Secretary Steven T. Mnuchin, disclosed two open-market purchases of Lionsgate Studios common shares.

• 17 Jun 2025: 487,400 shares bought at a weighted-average price of $5.9462.
• 20 Jun 2025: 420,234 shares bought at a weighted-average price of $5.6495.

The transactions increased the group’s indirect beneficial ownership from 35.97 million to 36.90 million shares, a net addition of 907,634 shares. The filing lists the entities as 10 % owners, underscoring their status as large, long-term shareholders. All shares are held through Liberty 77 Fund L.P. and Liberty 77 Fund International L.P., with Liberty 77 Capital L.P. acting as investment manager. Each reporting person disclaims beneficial ownership beyond its pecuniary interest.

No derivative securities were reported. The purchases were ordinary open-market transactions (code “P”) and were not tied to a Rule 10b5-1 trading plan. Weighted-average price ranges were $5.90-$6.00 and $5.6345-$5.65 respectively; full price breakdowns are available on request.

Key takeaway for investors: A 10 % beneficial owner materially increased its stake at prices below $6, signalling continued confidence in LION’s valuation.

Positive

• 907,634 additional shares purchased by a 10 % owner over two trading days, signalling insider confidence.
• Stake rises to 36.9 million shares, reinforcing long-term alignment with minority investors.
• Purchases executed below $6 per share, potentially establishing a valuation floor.

Negative

• None.

Insights

Financial Analyst

TL;DR: Large insider adds 0.9 M shares, boosting stake to 36.9 M – bullish signal.

The Liberty 77 group, already a 10 %+ holder, added roughly 2.5 % to its position within three days, spending about $5.3 million based on weighted-average prices. Such incremental buying at multi-month lows shows price support and aligns the fund’s interests with minority shareholders. No sales or derivatives dilute the message; this is straightforward accumulation. While Form 4s give no operational insight, historical studies link sizeable insider purchases by >10 % owners to above-market returns, making the filing positively biased for sentiment.

Corporate Governance Expert

TL;DR: Mnuchin-led vehicle deepens exposure, reinforcing active ownership stance.

Steven T. Mnuchin’s control over Liberty 77 provides strategic heft. Increasing the holding beyond 36 million shares entrenches the group’s influence over any future corporate actions, including potential spin-offs, mergers, or board initiatives. The absence of a 10b5-1 plan suggests discretionary buying, often interpreted as higher conviction. For governance observers, a larger, highly visible investor can be double-edged—supportive of disciplined capital allocation yet capable of exerting outsized sway. Nonetheless, today’s disclosure is incrementally positive for alignment.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Liberty 77 Capital L.P.

(Last) (First) (Middle)

2099 PENNSYLVANIA AVENUE NW

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Lionsgate Studios Corp. [ LION ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	06/17/2025		P		487,400	A	$5.9462(1)	36,476,036	I	See footnotes(2)(3)
Common Shares	06/20/2025		P		420,234	A	$5.6495(4)	36,896,270	I	See footnotes(2)(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Liberty 77 Capital L.P.

(Last) (First) (Middle)

2099 PENNSYLVANIA AVENUE NW

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Liberty 77 Fund L.P.

(Last) (First) (Middle)

C/O LIBERTY 77 CAPITAL L.P.

2099 PENNSYLVANIA AVENUE NW

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Liberty 77 Fund International L.P.

(Last) (First) (Middle)

C/O LIBERTY 77 CAPITAL L.P.

2099 PENNSYLVANIA AVENUE NW

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Liberty 77 Capital Partners L.P.

(Last) (First) (Middle)

C/O LIBERTY 77 CAPITAL L.P.

2099 PENNSYLVANIA AVENUE NW

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Liberty Capital L.L.C.

(Last) (First) (Middle)

C/O LIBERTY 77 CAPITAL L.P.

2099 PENNSYLVANIA AVENUE NW

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

STM Partners LLC

(Last) (First) (Middle)

C/O LIBERTY 77 CAPITAL L.P.

2099 PENNSYLVANIA AVENUE NW

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

MNUCHIN STEVEN T

(Last) (First) (Middle)

C/O LIBERTY 77 CAPITAL L.P.

2099 PENNSYLVANIA AVE NW

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The price shown in Column 4 is a weighted average price. The price range is $5.9000 to $6.0000. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the issuer or a security holder of the issuer, full information regarding the number of shares transacted at each separate price.

2. The Common Shares included herein are held by Liberty 77 Fund L.P., a Cayman Islands exempted limited partnership, and Liberty 77 Fund International L.P., a Cayman Islands exempted limited partnership (together with Liberty 77 Fund L.P., the "Liberty Funds"). Liberty 77 Capital L.P. (the "Liberty Manager"), a Delaware limited partnership, is the investment manager of the Liberty Funds. Liberty 77 Capital Partners L.P. (the "Liberty Manager GP"), a Delaware limited partnership, is the general partner of the Liberty Manager. Liberty Capital L.L.C., a Delaware limited liability company, is the general partner of the Liberty Manager GP. STM Partners LLC, a Delaware limited liability company, indirectly controls the Liberty Manager and the general partner of the Liberty Funds. Steven T. Mnuchin is the president of STM Partners LLC.

3. Each Reporting Person disclaims beneficial ownership of these securities except to the extent of its or his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

4. The price shown in Column 4 is a weighted average price. The price range is $5.6345 to $5.6500. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the issuer or a security holder of the issuer, full information regarding the number of shares transacted at each separate price.

	/s/ See Signatures Included in Exhibit 99.1	06/20/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Lionsgate Studios (LION) shares did Liberty 77 buy in June 2025?

They acquired 907,634 common shares across two open-market transactions on 17 Jun 2025 and 20 Jun 2025.

What prices were paid for the LION shares?

Weighted-average prices were $5.9462 on 17 Jun and $5.6495 on 20 Jun, with detailed ranges disclosed in the footnotes.

How many LION shares does Liberty 77 now own?

Post-transactions, Liberty 77 reports 36,896,270 common shares held indirectly through its funds.

Is Liberty 77 a director or officer of Lionsgate Studios Corp.?

No. The filing lists the entities solely as 10 % owners; they do not serve as directors or officers.

Were the purchases made under a Rule 10b5-1 trading plan?

No. The box indicating a 10b5-1 plan was left unchecked, implying discretionary open-market buying.