Lionsgate Entertainment Corp. recently completed the largest acquisition in its history, purchasing the John Malone-controlled Starz media company last December. This transaction is a logical one for both companies, and hardly surprising given the continued involvement of John Malone, one of the most astute investors of his generation. There are many more layers to this investment, which exemplifies owner-operator management and, as of the publication of this report — and thanks to the indexation exclusion rules — traded at a roughly 50% discount to the broader market.

Download: March 2017 Stahl Report on Lionsgate Entertainment