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CBS acquiring Lions Gate's 50% stake in POP network

CBS Corp. is acquiring Lions Gate Entertainment Corp.'s 50% stake in POP (US) to assume 100% ownership of the cable network, Broadcasting & Cable reported March 12, citing an internal memo.

Financial terms of the deal were not disclosed.

POP will become part of CBS Corp.'s cable network segment, David Nevins, chief creative officer at CBS Corp., said in the memo. The broadcasting company will also explore ways of making POP a part of content and marketing initiatives across all CBS-owned platforms.