has reported a charge of $50.5 million in the fourth fiscal quarter that ended on March 31 due to the COVID-19 pandemic and related economic disruption — with $46 million reflected in direct operating expense.This charge included motion picture and television impairments and development charges associated with changes in performance expectations and the feasibility of project completions, along with costs associated with pausing film and television production.
Lionsgate posted revenues and operating income above Wall Street projections for its fourth fiscal quarter that ended on March 31. Revenues were $944.3 million, 1% above the analyst consensus. Adjusted operating income was $125.8 million, 9% above Wall Street forecasts. Lionsgate said media networks segment revenue of $358 million was essentially unchanged from the prior year quarter while segment profit of $26 million was impacted by the continued investment in Starzplay’s international expansion to 50 countries and exceeded subscriber targets. Domestically, Starz OTT subscribers totaled 6.8 million in the quarter.
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