Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.3.1.900
Related Party Transactions
 12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
Related Party Transactions
– Related Party Transactions

In December 2010, Anchor Bay Entertainment entered into a five-year license agreement with Weinstein for the distribution of certain Weinstein theatrical releases on DVD and digital formats. Effective in December 2014, Anchor Bay Entertainment extended, through April 2020, its license agreement with Weinstein. As mentioned in Note 1, Starz, LLC acquired Weinstein’s 25% interest in Starz Media during October 2015. Accordingly, Weinstein is no longer considered a related party.

Anchor Bay Entertainment earns a fee for the distribution of such theatrical titles. Starz recognized participation expense of $100.8 million, $91.5 million and $163.2 million, which is included in production and acquisition costs in the accompanying consolidated statements of operations, for Weinstein’s share of the net proceeds under the license agreement, for the years ended December 31, 2015, 2014 and 2013, respectively. Cash paid to Weinstein for investment in films and television programs totaled $85.1 million, $145.5 million and $143.9 million for the years ended December 31, 2015, 2014 and 2013, respectively. Starz’s payable to Weinstein, which is included in accrued liabilities in the accompanying consolidated balance sheets, totaled $59.6 million at December 31, 2014.