
Starz delivered solid OTT revenue growth, margin expansion, and strong free cash flow, underpinned by successful original content and cost controls. STRZ's transition to owned content, exemplified by Fightland, enhances IP value, subscriber growth, and international licensing opportunities. Leverage remains manageable at 2.8x, with refinancing lowering interest costs and simplifying the capital structure; 2026 OIBDA guidance raised to $220M.










