Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Segment information is presented in the table below:

	Three Months Ended
	June 30,
	2026		2025
	Starz Networks		Starz Networks
	(Amounts in millions)
Revenue
OTT revenue	$	221.3	$	221.1
Linear and other revenue	86.6		98.6
Total revenue	307.9		319.7
Operating expenses:
Programming amortization	114.1		162.5
Payroll(1)	35.6		29.7
Advertising and marketing	70.3		63.4
Other(2)	44.9		35.9
Depreciation and amortization	67.3		48.7
Restructuring and other	151.2		6.4
Total expenses	483.4		346.6
Operating loss	(175.5)		(26.9)
Interest expense	(13.6)		(13.2)
Interest and other income	0.5		—
Other expense	(2.0)		(2.5)
Loss from continuing operations before income taxes	(190.6)		(42.6)
Income tax benefit	1.2		0.1
Net loss from continuing operations	$	(189.4)	$	(42.5)

	Six Months Ended
	June 30,
	2026		2025
	Starz Networks		Starz Networks		International		Total
	(Amounts in millions)
Revenue
OTT revenue	$	432.4	$	444.6	$	2.0	$	446.6
Linear and other revenue	182.4		201.3		2.4		203.7
Total revenue	614.8		645.9		4.4		650.3
Operating expenses:
Programming amortization	252.4		278.6		2.3		280.9
Payroll(1)	69.9		60.2		0.6		60.8
Advertising and marketing	120.7		122.1		0.2		122.3
Other(2)	74.0		68.9		—		68.9
Depreciation and amortization	135.8		96.8		—		96.8
Restructuring and other	290.3		183.1		6.7		189.8
Total expenses	943.1		809.7		9.8		819.5
Operating loss	(328.3)		(163.8)		(5.4)		(169.2)
Interest expense	(27.5)		(24.1)		—		(24.1)
Interest and other income	0.9		1.7		—		1.7
Other expense	(3.8)		(4.3)		—		(4.3)
Loss on extinguishment of debt	—		(0.7)		—		(0.7)
Loss from continuing operations before income taxes	(358.7)		(191.2)		(5.4)		(196.6)
Income tax benefit	4.4		0.1		—		0.1
Net loss from continuing operations	$	(354.3)	$	(191.1)	$	(5.4)	$	(196.5)

______________________________________

(1)    Payroll expense by segment, which includes salaries and employee benefits, is reviewed by the CODM on a quarterly basis.

(2)     Includes total other operating and general and administrative expenses from the accompanying unaudited condensed consolidated statements of operations, less payroll expense per note (1).

Reconciliation of Assets from Segment to Consolidated

The reconciliation of total segment assets to the Company’s total consolidated assets is as follows:

	June 30, 2026		December 31, 2025
	(Amounts in millions)
Assets
Starz Networks	$	1,560.3	$	1,818.2
Other unallocated assets(1)	111.5		95.0
	$	1,671.8	$	1,913.2

_____________________

(1)Other unallocated assets primarily consist of cash and other assets.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Long-lived assets by geographic location are as follows:

	June 30, 2026		December 31, 2025
	(Amounts in millions)
Long-lived assets(1)
United States	$	952.6	$	1,084.6

_____________

(1)Long-lived assets primarily represent programming content, net, property and equipment, net, and right-of-use assets.