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Related Party Transactions
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12 Months Ended |
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Dec. 31, 2013
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| Related Party Transactions [Abstract] | |
| Related Party Transactions |
– Related Party Transactions
Related Party
On January 28, 2011, Starz, LLC sold a 25% interest in Starz Media to Weinstein. In December 2010, Anchor Bay Entertainment entered into a five-year license agreement with Weinstein for the distribution, by the Home Video and Digital Media businesses, of certain of Weinstein’s theatrical releases. Starz recognized participation expense of $163.2 million, $60.8 million and $72.1 million, which is included in production and acquisition costs in the accompanying statement of operations, for Weinstein’s share of the net proceeds under the license agreement, for the years ended December 31, 2013, 2012 and 2011, respectively. Starz’s payable to Weinstein totaled $75.9 million and $23.9 million, which is included in accrued liabilities in the accompanying consolidated balance sheets, at December 31, 2013 and 2012, respectively. Starz Entertainment guarantees Anchor Bay Entertainment’s advance payments to Weinstein under this agreement up to $50.0 million.
Due to Affiliates
Prior to the LMC Spin-Off, Starz, LLC participated in Old LMC’s employee benefit plans (medical, dental, life insurance, etc.) and 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 consolidated statements of operations and aggregated none, $12.5 million and $12.4 million for the years ended December 31, 2013, 2012 and 2011, 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 December 31, 2013 and 2012, respectively.
Due to affiliates at December 31, 2013 and 2012 also includes none and $38.5 million respectively for amounts owed to Old LMC for income tax obligations.
Contributions from Affiliate
During the year ended December 31, 2011, Starz, LLC’s tax liability to Old LMC was reduced by $36.6 million due to the overpayment of 2010 tax sharing obligations which were treated as a distribution to affiliate in 2010. Such reduction is reflected as a contribution from affiliate in the accompanying consolidated statement of equity.
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