Ever tried to figure out exactly who pulls the strings at a major Hollywood studio? It's usually a mess of holding companies and billionaire ego trips. If you're asking who owns Lionsgate Entertainment, you’ve probably realized it isn't as simple as pointing to a single person sitting in a high-back chair petting a white cat.
The short version: Nobody "owns" it in the way you own your car. It is a publicly traded company.
But that's a boring answer. The real story involves a massive corporate divorce, a billionaire hedge fund manager named Mark Rachesky, and a former U.S. Treasury Secretary.
The Great 2025 Split
For years, Lionsgate was a weird hybrid. It was a movie studio (the people who gave us John Wick and The Hunger Games) tethered to Starz (the premium cable network). They were basically roommates who didn't really get along.
In May 2025, they finally moved out.
Lionsgate completed a full separation of its studio business from Starz. Now, they are two totally independent, publicly traded companies. If you’re looking for the studio—the one making the movies—you’re looking at Lionsgate Studios Corp, which trades on the New York Stock Exchange under the ticker LION.
Starz went its own way under the ticker STRZ on the Nasdaq.
So, when we talk about who owns Lionsgate Entertainment today, we are specifically talking about the stakeholders of the studio entity.
The Power Players: Who Actually Calls the Shots?
Since it's public, the "owners" are the people holding the most shares. Right now, a few names carry a lot of weight.
Mark Rachesky and MHR Fund Management
Mark Rachesky is the Chairman of Lionsgate. He isn't just a figurehead; his firm, MHR Fund Management, is consistently one of the largest shareholders. As of early 2026, MHR holds roughly 13% of the company through various funds. Rachesky has been the "anchor" of Lionsgate for over a decade, often clashing with other activists to keep the company independent.
Steven Mnuchin and Liberty Strategic Capital
This is where it gets interesting. Former U.S. Treasury Secretary Steven Mnuchin entered the fray with his firm, Liberty Strategic Capital. They hold a massive stake—about 12.7% to 13%. When someone with that much political and financial capital buys in, it usually means they’re looking for a sale or a major restructuring.
The Institutional Giants
Then you have the usual suspects. The "Big Three" of the investing world:
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- Vanguard Group: Owns about 8% of the shares.
- BlackRock: Holds around 7%.
- Point72 Asset Management: This is Steve Cohen’s firm. They recently bumped up their stake significantly to over 5%.
If you’re a retail investor with ten shares in your Robinhood account, technically, you’re an owner too. But Rachesky and Mnuchin are the ones the CEO, Jon Feltheimer, actually listens to.
The Lionsgate Play Shakeup in Asia
Ownership isn't just about the stock market; it's about who owns the pieces of the brand. In January 2026, a major shift happened in the East.
Lionsgate sold its Lionsgate Play streaming operations in India and Southeast Asia. The buyer? Rohit Jain, who was actually the President of Lionsgate Play Asia. It’s now a founder-led independent company.
Lionsgate still keeps its film and TV distribution in those regions, but the "Play" app is no longer under the corporate parent's roof. This is part of a broader trend: Lionsgate is trying to become "lean." They want to be a pure-play content studio without the heavy baggage of managing local streaming apps and cable networks.
Wait, didn't Sony buy them?
You might have heard rumors. In mid-2025, there was a lot of noise about Legendary Entertainment or even Sony looking to buy the studio.
Honestly, that’s been the rumor for years. Because Lionsgate is the last "mini-major" studio—an independent player in a world of giants like Disney and Warner Bros. Discovery—it’s always seen as a prime target for a takeover.
As of right now, no such deal has closed. Lionsgate remains independent, though the current ownership structure (with Mnuchin and Rachesky at the top) suggests they are dressed up and ready for the prom, just waiting for the right dance partner.
Why Ownership Matters to You
If you’re just a fan of The Hunger Games, you probably don’t care about 13F filings. But ownership dictates what you see on screen.
When a company is owned by a hedge fund like MHR, the focus is often on the "library." Lionsgate has over 20,000 titles. They make a killing by licensing Mad Men or Orange Is the New Black to other streamers.
This "arms dealer" strategy—where they sell to the highest bidder rather than keeping everything for their own service—is only possible because they aren't owned by a tech giant like Apple or Amazon.
Actionable Insights for the Curious
If you're following this company, keep your eyes on two specific things:
- Monitor the SEC filings for LION: If Liberty Strategic Capital (Mnuchin) starts buying more, or if a new player like Sony appears in the filings, a total sale is likely imminent.
- Watch the Box Office: Lionsgate's value is tied to its franchises. The success of any new John Wick spin-offs or Hunger Games prequels directly impacts the stock price and, by extension, who wants to buy the company.
Check the investor relations page at investors.lionsgate.com if you want the raw data. They post their quarterly earnings there, which usually includes a breakdown of their debt and their most recent shareholder distributions.
The studio is currently in a "pure-play" phase. They’ve cut the cord with Starz, sold off the Asian streaming wing, and are focused entirely on making movies and TV. Whether they stay independent through 2026 is the billion-dollar question.