MGM is looking to sign up a strategic partner for its Epix pay TV service, according to a report by The Information, citing unnamed sources.
According to The Information, MGM chairman Kevin Ulrich is working with investment bank LionTree to find a potential partner, and has approached entertainment companies about a possible tie-up, which would most likely involve taking a stake in Epix.
According to the report, MGM would aim to retain control of the channel.
MGM paid over US$1 billion in 2017 to take control of the 81% of Epix that it did not already own from Lionsgate and Viacom, following Lionsgate’s acquisition of Starz.
MGM this week launched Epix Now, a new OTT TV streaming service featuring the full Epix library of original programming and movies for US$5.99 a month. US viewers who receive Epix as part of their pay TV package can already log in with these credentials to access content online and via the Epix app.
Last year, MGM chief operating officer Chris Brearton said that the company would “reposition and expand” what was seen as an underperforming service, adding that Epix’s original programming line-up was not significant enough to compete with rival services.