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Related Party Transactions
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9 Months Ended |
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Sep. 30, 2013
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| Related Party Transactions [Abstract] | |
| Related Party Transactions |
Related Party Transactions
Due to Affiliate
Prior to the LMC Spin-Off, Starz, LLC participated in Old LMC’s employee benefit plans (medical, dental, life insurance, etc.) and now participates in Starz’s plans following the LMC Spin-Off. Charges from Old LMC related to these benefits and other miscellaneous charges are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations and aggregated none, $3.2 million, none and $9.2 million for the three months ended September 30, 2013 and 2012 and the nine months ended September 30, 2013 and 2012, respectively. Such amounts were invoiced by Old LMC on a monthly basis and were due upon receipt of the invoice by Starz, LLC. Amounts due to affiliate for such charges totaled none and $1.0 million as of September 30, 2013 and December 31, 2012, respectively.
Due to affiliate at December 31, 2012 also includes $38.5 million for amounts owed to Old LMC for income tax obligations.
Related Party
On January 28, 2011, Starz, LLC sold a 25% interest in Starz Media to TWC. In December 2010, Anchor Bay Entertainment entered into a five-year license agreement with TWC for the distribution, by the Home Video and Digital Media businesses, of certain of TWC’s theatrical releases. Starz recognized expense of $35.0 million, $10.4 million, $140.6 million and $46.8 million, which is included in production and acquisition costs in the accompanying condensed consolidated statements of operations, for TWC’s share of the net proceeds under the license agreement for the three months ended September 30, 2013 and 2012 and the nine months ended September 30, 2013 and 2012, respectively. Amounts due to TWC totaled $79.4 million and $23.9 million, which is included in accrued liabilities in the accompanying condensed consolidated balance sheets, at September 30, 2013 and December 31, 2012, respectively. Starz Entertainment guarantees Anchor Bay Entertainment’s advance payments to TWC under this agreement up to $50.0 million.
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