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Programming Content | 12 Months Ended
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Mar. 31, 2025
Other Industries [Abstract] |
Programming Content | Programming Content The predominant monetization strategy for Starz Business's programming content (which includes licensed program rights and owned and produced films and television programs) is as a group. Total programming content is as follows:
| March 31, 2025 |  | March 31, 2024
| (Amounts in millions)
Licensed program rights, net of accumulated amortization | $ | 1,080.0 |  |  | $ | 919.4 |
Owned and produced films and television programs: |  |  |
Released, net of accumulated amortization | 9.2 |  |  | 15.6 |
In progress | — |  |  | 5.0 |
In development | 7.1 |  |  | 2.9 |
| 16.3 |  |  | 23.5 |
Programming content, net | $ | 1,096.3 |  |  | $ | 942.9 |
Amortization of programming content is as follows and was included in direct operating expense in the combined statement of operations:
| Year Ended
| March 31,
| 2025 |  | 2024 |  | 2023
| (Amounts in millions)
Amortization expense: |  |  |  |  |
Licensed program rights | $ | 633.4 |  |  | $ | 544.5 |  |  | $ | 596.0 |
Owned and produced films and television programs | 5.5 |  |  | 82.0 |  |  | 49.0 |
| $ | 638.9 |  |  | $ | 626.5 |  |  | $ | 645.0 |
The table below summarizes estimated future amortization expense for the Starz Business's programming content as of March 31, 2025:
| Year Ending
| March 31,
| 2026 |  | 2027 |  | 2028
| (Amounts in millions)
Estimated future amortization expense: |  |  |  |  |
Licensed program rights | $ | 317.2 |  |  | $ | 119.4 |  |  | $ | 80.7 |
Released owned and produced films and television programs | 2.9 |  |  | 2.4 |  |  | 1.3 |
Impairments. Programming content includes write-downs to fair value. During the fiscal years ended March 31, 2025, 2024 and 2023, the Starz Business recorded content impairment charges of $156.4 million, $213.0 million and $87.6 million, respectively, related to restructuring plan initiatives, which included a strategic review of content performance across Starz's platforms resulting in certain programming being removed from those platforms and written down to fair value. These charges are included in restructuring and other in the combined statements of operations and excluded from segment operating results. See Note 13, Restructuring and Other, and Note 14, Segment Information, to our audited combined financial statements for further information. See Note 2, Discontinued Operations, to our audited combined financial statements for additional content impairment charges related to discontinued operations.

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