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Subsequent Events
3 Months Ended
Jun. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Film Library Acquisition. On July 15, 2021, the Company acquired the majority of the Spyglass Media Group, LLC ("Spyglass") feature film library of approximately 200 titles. In connection with the acquisition of the film library, the Company also formed a strategic content partnership (which provides for an investment of a 20% minority ownership stake) and entered into a multiyear first-look television arrangement with Spyglass.

IP Credit Facility. In July 2021, certain subsidiaries of the Company entered into a senior secured amortizing term credit facility (the "IP Credit Facility") based on the collateral consisting solely of the Company’s rights in certain library titles, including the Spyglass and other recently acquired libraries and non-recourse to other assets of the Company. The maximum principal amount of the IP Credit Facility is $100.0 million, subject to the amount of collateral available, which is based on the valuation amount of cash flows from the libraries. The cash flows generated from the exploitation of the rights will be applied to repay the IP Credit Facility subject to a minimum guaranteed payment amount and are expected to be sufficient to fully repay the facility by the stated maturity date. Advances under the IP Credit Facility bear interest at a rate equal to, at the Company’s option, LIBOR plus 2.25% per annum or the base rate plus 1.25% per annum. The IP Credit Facility matures on July 30, 2026.

Term Loan B Repurchases. In July and August 2021, the Company completed a series of repurchases of the Term Loan B, and in aggregate, paid $38.7 million to repurchase $38.9 million principal amount of the Term Loan B.