LOS ANGELES - Independent studio Lions Gate Entertainment on Wednesday said Walt Disney Co's art-house studio Miramax would fit into its criteria for acquisitions.
Chief Executive Jon Feltheimer said he wouldn't respond specifically to speculation that Lions Gate may bid on MGM or Miramax, but he outlined the company's strategic rationale for any potential transaction.
Our acquisitions need to be accretive, provide a value-added strategic component to one or more of our operating companies, provide immediate infrastructure benefit through reduced cost and superior manpower and fit into our macro integrated media strategy, he said.
Michael Burns, vice chairman of Lions Gate, added, We are not known to overpay. Obviously (Miramax is) an asset that would fit into the other criteria that Jon mentioned earlier, but again our key for any acquisition is whether it would be accretive from a multiple standpoint.
When asked on Tuesday about a potential sale of the unit, Disney's CEO Bob Iger, said it was prudent to explore all options, which sources have said has attracted interest from several would-be buyers like Lions Gate, the Weinstein Co and Summit, home to the popular Twilight franchise.
(Reporting by Susan Zeidler; Editing by Derek Caney)