Lions Gate stock rises as paperwork filed for company split

Shares of Lions Gate Entertainment Corp. rose in the extended session Wednesday after the company said it filed paperwork with the Securities and Exchange Commission to separate its studio business from Starz. Class A shares
LGF.A,
-1.63%
of Lions Gate rose 1.2%, and Class B shares
LGF.B,
-1.37%
rose 2.6%. after hours. Lions Gate said it plans to separate its movie and TV business along with general corporate functions to the “Studio Business” while retaining the media segment of Starz.