CBS Made Informal Offer to Acquire Starz

CBS Corp. has expressed interest in acquiring cable channel Starz from Lions Gate Entertainment, according to four people familiar with the situation. CBS has been looking at the acquisition as a possible complement to Viacom, which CBS also is considering purchasing, said three of the people.

Joseph Ianniello, the interim CEO of CBS, made an informal offer to Lions Gate executives of around $5 billion over the past few weeks, which they turned down, seeking a higher valuation, according to three of the people. CBS is still interested in a possible deal, two of the people said.