Good news for both producers and consumers of original programming. According to THR, Starz is talking to potential partners around the world to raise $1 billion of off-balance sheet financing for original programming, in a project dubbed “Operation Turbo.”
According to the THR story, the brass at Liberty Media (Starz’ parent company) tasked Starz Entertainment CEO Chris Albrecht with finding the money to greatly increase original programming in order to compete better with efforts by HBO and Showtime.
The story also notes that Starz finances have already been restructured well in recent months, putting it in better position to be sold or spun off. Liberty & Starz have said the Starz channels (which include Encore and MoviePlex) are doing well and there are no plans to sell the channels anytime soon.