MGM has agreed to buy a 80.91% stake on pay-television channel Epix for $1.032 billion, buying out partners Viacom Inc. and Lions Gate Entertainment Corp. . The transaction gives MGM control over Epix’s four pay television channels and is expected to close later this month, the companies said. Epix is the “fastest-growing premium network over the past 5 years,” with approximately $4 billion in box-office hits, according to the statement. As part of the deal, Paramount Pictures and Lionsgate will continue to provide their first-run theatrical releases to Epix under multi-year agreements. The Wall Street Journal reported about the potential deal last month.
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