Screaming Eagle Acquisition, a blank cheque company, agreed to acquire Lionsgate Studios, a newly spun off entertainment unit of Lionsgate, in a $4.6bn deal. As a result of the transaction, 87.3% of the total shares of Lionsgate Studios are expected to continue to be held by Lionsgate, Screaming Eagle is expected to own an aggregate of approximately 12.7% of the combined company. "We are thrilled to be part of establishing Lionsgate Studios as one of the only pure play content companies in the public markets, which is well positioned to unlock value for both existing and new shareholders. We believe this will be seen as one of the most innovative and value creating transactions the market has seen in some time," Eli Baker, Screaming Eagle CEO.