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Segment Information (Tables)

6 Months Ended

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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