UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net loss		$ (354.3)	$ (195.5)
Less: net income from discontinued operations, net of tax		0.0	1.0
Net loss from continuing operations, net of tax		(354.3)	(196.5)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		135.8	96.8
Programming amortization		252.4	280.9
Net content impairment		129.2	167.3
Amortization of debt financing costs and other non-cash interest		2.3	2.0
Share-based compensation		20.2	11.7
Other amortization		4.2	3.5
Loss on extinguishment of debt		0.0	0.7
Deferred income taxes		0.0	0.2
Changes in operating assets and liabilities:
Accounts receivable, net		2.6	60.1
Cash paid for programming content	[1]	(294.9)	(394.3)
Other assets		2.8	(5.5)
Accounts payable and accrued liabilities		145.4	4.2
Residuals		(1.3)	(0.1)
Deferred revenue		0.6	6.4
Due to LG Studios Business		0.0	(35.5)
Net cash flows provided by operating activities		45.0	1.9
Investing activities:
Capital expenditures		(9.7)	(10.8)
Deferred purchase price of receivables sold		1.2	0.5
New Lionsgate revolving credit facility – increases		0.0	455.5
New Lionsgate revolving credit facility – decreases		0.0	(321.5)
Net cash flows (used in) provided by investing activities		(8.5)	123.7
Financing activities:
Programming related obligations – borrowings		238.2	290.6
Programming related obligations – repayments		(251.0)	(278.7)
Exercise of stock options		0.2	0.0
Distribution of Exchange Notes to New Lionsgate upon Separation		0.0	(389.9)
Debt – borrowings, net of debt issuance and redemption costs		0.0	388.3
Debt repayments		0.0	(96.5)
Parent net investment		0.0	(2.0)
Net cash flows used in financing activities		(12.6)	(88.2)
Net change in cash and cash equivalents		23.9	37.4
Cash and cash equivalents – beginning of period		35.7	14.2
Cash and cash equivalents – end of period		$ 59.6	$ 51.6

[1] Cash paid for programming content for the six months ended June 30, 2026 includes $157.1 million for the licensing of program rights from the LG Studios Business (as defined below).