Media Biz: post-Brexit pound KOs Starz-Lionsgate merger

The widely expected merger between Lionsgate and Starz has been derailed because of the Brexit currency chaos, The Post has learned.

One of the banks being lined up to provide the financing was forced to withdraw from the deal after the British pound fell about 10 percent versus the dollar over two days, one source told The Post.

“It fell apart over the weekend,” the source said. “Brexit hurt the financing. It’s dead.”

The person cautioned that the deal could be resuscitated if economic conditions improve.

Rumors of a likely deal between the Hollywood studio and the premium pay-TV channel gained steam in the last couple of weeks — pushing shares of both companies higher.

Shares of Lionsgate, the studio behind “Hunger Games” and “Divergent,” rose 5.8 percent on June 23, to $21.72, as whispers of an impending deal raced from Tinseltown to Wall Street.

Television: "Royal Palm" Uprooted

AFTER a 21-year run, the Royal Palm Estate train may be coming to a halt.

Lennie Little-White, executive producer of the popular soap opera, blames the pending stoppage on economics.

"What really pushed us over the brink is the increased fees we must pay to CVM (Television) to broadcast the show. Because of the declining viewership in local TV, sponsors are not supportive anymore," said Little-White.

Little-White made the disclosure Sunday at a function to recognise cast and crew of Royal Palm Estate/The Blackburns, who had worked for 10 years or more on the shows.

Among those receiving legend awards were actors Beth Hyde, Munair Zacca, Bobby Smith, Michael Nicholson and Carol Campbell. Sound and lighting technician Tebel Largie and editor Radcliffe McBean were among the crew recognised.

Royal Palm Estate and The Blackburns focus on the lives of residents on a modern-day estate. The pilot for the programme was shot in 1991 and officially aired on CVM in 1994. The original cast included Reggie Carter, Cyrene Tomlinson and John Jones, who have all since died.

Little-White addressed the challenges he faced.

"The landscape at CVM TV has changed. Even though I am still a shareholder, there was no benevolence and I was paying the station more than I was earning. It was just not feasible anymore. Now, we will also have to try to find a new home whether it is on cable, another station or the Internet," he said.

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