- Starz (NASDAQ:STRZA) is flat in after-hours trading following a third quarter report where it missed slightly on top and bottom lines, though revenues increased at Starz Networks as subscribers increased.
- Overall revenue declined 1% to $404.1M; Starz Networks revenue rose to $329.3M. Its Distribution business revenue fell 11% to $65.6M. Consolidated adjusted OIBDA was up 4% to $114.7M ($120.2M expected).
- The Network business saw an increase in programming costs for original series while advertising and marketing costs fell. In distribution, revenues slipped on lower revenue from AMC's The Walking Dead that wasn't offset by significant new Starz series. OIBDA rose to $0.9M, though, based on distributing films for The Weinstein Co.
- Conference call to come at 5 p.m. ET.
- Press release