Lionsgate's archives alone are worth more than the entire company structure, indicating that the current structure is not ideal. Lionsgate's executives are focusing on the library, which generated record annual revenue of $884 million. Media players have shown interest in the studio, making it a likely consolidation target.

The M&A market has likely cooled since Amazon's purchase of MGM. Still, there would be numerous parties interested in Lionsgate's studio, according to Steven Cahall and his team.

Lionsgate's library alone, which includes 'La La Land' and franchises such as 'John Wick,' 'Hunger Games,' and 'Twilight,' has a net worth of $5.525 billion. TV production is worth another $1.6 billion, and the entire Starz business is worth $1-$2 per share.

NKSFB, the most significant business management firm in Hollywood, is in a legal battle against Focus Financial Partners. The parent company is trying to evade California law and illegally prevent business managers from pursuing their careers if they leave.

Around 50 Nigro Karlin principals filed a lawsuit challenging the non-compete provision in their management agreement with Focus. The contract at issue is a July 2022 amended and restated management agreement.

The business managers argue that because the non-compete is not connected to the sale of the company, it runs afoul of California law. The principals are seeking an injunction that would bar Focus from being able to pursue their professional and business interests following termination of their employment with the management company.

Focus and Goldman are also arguing that the matter should be litigated in New York and filed a demurrer to six of the eight causes of action, arguing failure to state a claim for everything but breach of contract.

The NKSFB case casts further scrutiny on the non-compete clauses prevalent in Hollywood. These agreements have come under fire in recent years, with some arguing that they harm competition, limit workers' rights, and stifle innovation.