Lionsgate and Starz have been working on a separation for the last three years, but the pandemic and the WGA and SAG-AFTRA strikes slowed things down. The split is intended “to ultimately create more market value for both,” per Deadline.

Lionsgate’s TV and film studio business has officially broken up with Starz. On Wednesday, Lions Gate Entertainment Corp. completed the full separation of the Lionsgate Studios and Starz businesses into two standalone,

Lions Gate Entertainment (NYSE:LGF.A) (NYSE:LGF.B) fully splits its studio and premium TV businesses into two stand-alone publicly traded companies Tuesday, after receiving final court approval on the long-running plan.