Starz Entertainment Corp. reported fourth-quarter 2025 revenue of $322.8 million, down from $344.5 million a year earlier, but significantly narrowed its operating loss to $(4.7) million. Net loss was $(20.7) million, or $(1.24) per share.
Profitability on a cash-like basis improved, with fourth-quarter Adjusted OIBDA rising to $55.5 million and trailing-twelve-month Adjusted OIBDA reaching $204.0 million. The company ended the quarter with $300 million outstanding on its Term Loan A, $325.1 million of senior unsecured notes, $35.7 million in cash and total net debt of $589.4 million, resulting in a total Adjusted OIBDA Leverage Ratio of 2.9%.
Starz grew its U.S. OTT subscribers to a record 12.7 million, up 890,000 or 7.6% year over year and 370,000 sequentially, while total U.S. subscribers increased to 17.6 million. Management stated it achieved or exceeded all 2025 outlook targets and for 2026 expects higher Adjusted OIBDA, growing OTT revenue, deleveraging to roughly 2.7x and a significant improvement in free cash flow.
Capital Research Global Investors, a division of Capital Research and Management Company and its affiliates, reports beneficial ownership of 870,042 shares of Starz Entertainment Corp. common stock.
This holding represents 5.2% of the 16,731,046 shares believed to be outstanding, with sole voting and dispositive power over all reported shares. The stake is certified as being held in the ordinary course of business and not for the purpose of changing or influencing control of Starz.
Starz Entertainment Corp. director Lisa Gersh reported receiving 5,703 common shares on 01/27/2026 as director fees paid in restricted share units (RSUs). The RSUs immediately vested on the grant date at a price of $10.52 per share. Following this grant, she beneficially owns 7,037 common shares directly.
Starz Entertainment Corp. director Harry Sloan received equity compensation in the form of company shares. On January 27, 2026, he acquired 4,753 Common Shares at a value of $10.52 per share, described as director fees paid in restricted share units that immediately vested on the grant date.
Following this grant, Sloan beneficially owned 47,013 Common Shares of Starz Entertainment Corp. in direct ownership.
Starz Entertainment Corp. director Royce E. Wilson reported receiving additional company stock as part of his board compensation. On January 27, 2026, he acquired 1,738 common shares at $10.52 per share. These director fees were paid in restricted share units that immediately vested on the grant date.
Following this grant, Wilson beneficially owns 2,058 common shares of Starz Entertainment Corp., held in direct ownership. The transaction was coded as an acquisition and reflects routine equity-based compensation for his role as a director.
Starz Entertainment Corp. director Hardwick Simmons received 3,089 common shares on January 27, 2026 as board compensation. The shares were paid in the form of restricted share units that vested immediately on the grant date at a reference price of $10.52 per share.
Following this award, Simmons beneficially owned 37,644 Starz common shares in total, held directly.
Starz Entertainment Corp. director Mignon L. Clyburn reported an equity compensation grant in the form of company common shares. On January 27, 2026, she acquired 2,376 common shares at $10.52 per share as director fees paid in restricted share units that immediately vested, bringing her directly held stake to 20,446 shares.
Starz Entertainment Corp. director Joshua W. Sapan reported an equity award for board service. On January 27, 2026, he received 3,089 common shares, recorded at $10.52 per share, as director fees paid in restricted share units that immediately vested on the grant date.
After this award, Sapan beneficially owned 9,312 common shares, held directly. The transaction reflects non-cash compensation for his role as a director rather than an open-market purchase or sale.
Starz Entertainment Corp director and 10% owner Mark H. Rachesky, M.D. received a stock grant as director fees. On 01/27/2026 he was awarded 4,753 common shares at $10.52 per share, increasing his directly held stake to 22,134 shares.
Additional common shares are reported as indirectly held through multiple MHR investment partnerships and advisory entities. Those entities, along with Dr. Rachesky, may be deemed to beneficially own those shares but each party disclaims beneficial ownership except to the extent of its pecuniary interest. Shares subject to a separate Voting and Standstill Agreement with other parties are excluded because the reporting persons have no pecuniary interest in them.
Starz Entertainment Corp director Emily Fine reported receiving 4,753 Common Shares of the company on 01/27/2026. The shares were granted as director fees at a price of $10.52 per share, increasing her directly held stake to 14,188 common shares. No derivative securities transactions were reported in this filing.