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Share-based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-Based Compensation Expense | The Company recognized the following share-based compensation expense:
| Year Ended
| March 31,
| 2025 |  | 2024 |  | 2023
| (Amounts in millions)
Compensation Expense: |  |  |  |  |
Stock options | $ | — |  |  | $ | — |  |  | $ | 0.4 |
Restricted share units | 16.8 |  |  | 17.6 |  |  | 15.7 |
Share appreciation rights | — |  |  | — |  |  | (0.1) |
Total Starz employee share-based compensation expense | 16.8 |  |  | 17.6 |  |  | 16.0 |
Corporate allocation of share-based compensation | 0.7 |  |  | 5.6 |  |  | 9.7 |
| 17.5 |  |  | 23.2 |  |  | 25.7 |
Impact of accelerated vesting on equity awards(1) | 0.5 |  |  | 1.4 |  |  | — |
Total share-based compensation expense (2) | $ | 18.0 |  |  | $ | 24.6 |  |  | $ | 25.7 |
Tax impact(3) | (4.3) |  |  | (5.9) |  |  | (6.2) |
Increase in net loss | $ | 13.7 |  |  | $ | 18.7 |  |  | $ | 19.5 |
_____________________ (1)Represents the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements. (2)Included in net earnings (loss) from discontinued operations for the year ended March 31, 2025 was share-based compensation expense o f $0.3 million (including $0.5 million related to accelerated vesting on equity awards) (2024 — $1.8 million, 2023 — $3.0 million). (3)Represents the income tax benefit recognized in the statements of operations for share-based compensation arrangements. Share-based compensation expense from continuing operations, by expense category, consisted of the following:
| Year Ended
| March 31,
| 2025 |  | 2024 |  | 2023
| (Amounts in millions)
Share-Based Compensation Expense: |  |  |  |  |
Direct operating | $ | 2.8 |  |  | $ | 2.7 |  |  | $ | 1.5 |
Distribution and marketing | 0.8 |  |  | 0.8 |  |  | 0.8 |
General and administration | 13.9 |  |  | 19.7 |  |  | 23.4 |
Restructuring and other | 0.5 |  |  | 1.4 |  |  | — |
| $ | 18.0 |  |  | $ | 24.6 |  |  | $ | 25.7 |
Schedule of Stock Options and SARs | The following table sets forth the stock option and share appreciation rights (“SARs”) activity o n grants related directly to the Company's employees during the year ended March 31, 2025:
|  |  |  |  |  |  |  |  | Stock Options and SARs
|  |  | Old Lionsgate Class B Non-Voting Shares
|  |  |  |  |  |  |  |  | Number of Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value(2)
|  |  |  |  |  |  |  |  | (Amounts in millions, except for weighted-average exercise price and years)
Outstanding at March 31, 2024 |  |  |  |  |  |  |  |  | 1.3 |  |  | $11.14 |  |  |  |
Granted |  |  |  |  |  |  |  |  | — |  |  | — |  |  |  |  |
Exercised |  |  |  |  |  |  |  |  | — |  | (1) | $6.49 |  |  |  |
Forfeited or expired |  |  |  |  |  |  |  |  | (0.1) |  |  | $15.81 |  |  |  |
Outstanding at March 31, 2025 |  |  |  |  |  |  |  |  | 1.2 |  |  | $11.08 |  | 3.74 |  | $ | 0.1 |
Vested or expected to vest at March 31, 2025 |  |  |  |  |  |  |  |  | 1.2 |  |  | $11.08 |  | 3.74 |  | $ | 0.1 |
Exercisable at March 31, 2025 |  |  |  |  |  |  |  |  | 1.2 |  |  | $11.08 |  | 3.74 |  | $ | 0.1 |
_____________________ (1)Represents less than 0.1 million shares. (2)The intrinsic value is calculated for each in-the-money stock option and SAR as the difference between the closing price of Old Lionsgate's common stock on March 31, 2025 and the exercise price.
Schedule of Restricted Stock Unit Activity | The following table sets forth the restricted share unit activity o n grants related directly to the Company's employees during the year ended March 31, 2025:
|  |  |  |  | Restricted Share Units
|  |  |  |  | Old Lionsgate Class B Non-Voting Shares |  | Weighted-Average Grant-Date Fair Value
|  |  |  |  | (Amounts in millions, except for weighted-average grant date fair value)
Outstanding at March 31, 2024 |  |  |  |  | 3.4 |  |  | $8.62
Granted |  |  |  |  | 2.3 |  |  | $7.99
Vested |  |  |  |  | (2.3) |  |  | $8.68
Forfeited |  |  |  |  | (0.2) |  |  | $8.15
Outstanding at March 31, 2025 |  |  |  |  | 3.2 |  |  | $8.15
Schedule of Unrecognized Compensation Cost | The following table summarizes the total remaining unrecognized compensation cost as of March 31, 2025 related to non-vested restricted share units and the weighted average remaining years over which the cost will be recognized. As of March 31, 2025, there wa s no remai ning unrecognized compensation cost related to non-vested stock options.
| Total Unrecognized Compensation Cost |  | Weighted Average Remaining Years
| (Amounts in millions) |  |
Restricted Share Units | $ | 12.6 |  |  | 1.5

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