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Segment Information (Tables) | 6 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Segment information is presented in the table below:
| Three Months Ended
| September 30,
| 2025 |  | 2024
| Starz Networks |  | Starz Networks |  | International |  | Total
| (Amounts in millions)
Revenue |  |  |  |  |  |  |
OTT revenue | $ | 222.8 |  |  | $ | 229.9 |  |  | $ | 2.3 |  |  | $ | 232.2 |
Linear and other revenue | 98.1 |  |  | 113.0 |  |  | 1.7 |  |  | 114.7 |
Total revenue | 320.9 |  |  | 342.9 |  |  | 4.0 |  |  | 346.9 |
Operating expenses: |  |  |  |  |  |  |
Programming amortization | 156.8 |  |  | 179.5 |  |  | 2.6 |  |  | 182.1 |
Payroll expense(1) | 32.0 |  |  | 28.6 |  |  | 0.5 |  |  | 29.1 |
Advertising and marketing | 78.4 |  |  | 75.2 |  |  | 0.3 |  |  | 75.5 |
Other(2) | 35.6 |  |  | 36.8 |  |  | 0.3 |  |  | 37.1 |
Depreciation and amortization | 47.9 |  |  | 41.2 |  |  | — |  |  | 41.2 |
Restructuring and other | 5.0 |  |  | 1.8 |  |  | (2.9) |  |  | (1.1) |
Total expenses | 355.7 |  |  | 363.1 |  |  | 0.8 |  |  | 363.9 |
Operating (loss) income | (34.8) |  |  | (20.2) |  |  | 3.2 |  |  | (17.0) |
Interest expense | (15.8) |  |  | (12.3) |  |  | — |  |  | (12.3) |
Interest and other income | 0.2 |  |  | 1.0 |  |  | 0.1 |  |  | 1.1 |
Other expense | (1.8) |  |  | (2.0) |  |  | — |  |  | (2.0) |
Loss on extinguishment of debt | — |  |  | — |  |  | — |  |  | — |
(Loss) income from continuing operations | (52.2) |  |  | (33.5) |  |  | 3.3 |  |  | (30.2) |
Income tax expense | (0.4) |  |  | (0.3) |  |  | (0.1) |  |  | (0.4) |
Net (loss) income from continuing operations | $ | (52.6) |  |  | $ | (33.8) |  |  | $ | 3.2 |  |  | $ | (30.6) |
| Six Months Ended
| September 30,
| 2025 |  | 2024
| Starz Networks |  | Starz Networks |  | International |  | Total
| (Amounts in millions)
Revenue |  |  |  |  |  |  |
OTT revenue | $ | 443.9 |  |  | $ | 462.0 |  |  | $ | 4.6 |  |  | $ | 466.6 |
Linear and other revenue | 196.7 |  |  | 226.2 |  |  | 1.7 |  |  | 227.9 |
Total revenue | 640.6 |  |  | 688.2 |  |  | 6.3 |  |  | 694.5 |
Operating expenses: |  |  |  |  |  |  |
Programming amortization | 319.3 |  |  | 325.6 |  |  | 4.4 |  |  | 330.0 |
Payroll expense(1) | 61.7 |  |  | 56.8 |  |  | 1.0 |  |  | 57.8 |
Advertising and marketing | 141.8 |  |  | 157.6 |  |  | 0.6 |  |  | 158.2 |
Other(2) | 71.5 |  |  | 73.4 |  |  | 0.9 |  |  | 74.3 |
Depreciation and amortization | 96.6 |  |  | 82.8 |  |  | — |  |  | 82.8 |
Restructuring and other | 11.4 |  |  | 1.2 |  |  | (2.9) |  |  | (1.7) |
Total expenses | 702.3 |  |  | 697.4 |  |  | 4.0 |  |  | 701.4 |
Operating (loss) income | (61.7) |  |  | (9.2) |  |  | 2.3 |  |  | (6.9) |
Interest expense | (29.0) |  |  | (23.1) |  |  | — |  |  | (23.1) |
Interest and other income | 0.2 |  |  | 1.8 |  |  | 0.1 |  |  | 1.9 |
Other expense | (4.3) |  |  | (3.7) |  |  | — |  |  | (3.7) |
Loss on extinguishment of debt | — |  |  | (4.9) |  |  | — |  |  | (4.9) |
(Loss) income from continuing operations before income taxes | (94.8) |  |  | (39.1) |  |  | 2.4 |  |  | (36.7) |
Income tax (expense) benefit | (0.3) |  |  | 7.4 |  |  | (0.2) |  |  | 7.2 |
Net (loss) income from continuing operations | $ | (95.1) |  |  | $ | (31.7) |  |  | $ | 2.2 |  |  | $ | (29.5) |
______________________________________ (1) Payroll expense by segment, which includes salaries and employee benefits, is reviewed by the CODM on a quarterly basis. (2) Includes total other operating and general and administrative expenses per the accompanying unaudited condensed consolidated statements of operations, less payroll expense per note (1).
Reconciliation of Assets from Segment to Consolidated | The reconciliation of total segment assets to the Company’s total consolidated assets is as follows:
| September 30, 2025 |  | March 31, 2025
| (Amounts in millions)
Assets |  |  |
Starz Networks | $ | 1,874.3 |  |  | $ | 2,017.8 |
International | — |  |  | 6.5 |
Other unallocated assets(1) | 98.1 |  |  | 148.9 |
| $ | 1,972.4 |  |  | $ | 2,173.2 |
_____________________ (1)Other unallocated assets primarily consist of cash and other assets.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | Long-lived assets by geographic location are as follows:
| September 30, 2025 |  | March 31, 2025
| (Amounts in millions)
Long-lived assets(1) |  |  |
United States | $ | 1,122.8 |  |  | $ | 1,180.5 |
_____________ (1)Long-lived assets represents programming content, net, property and equipment, net, and right-of-use assets.

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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