On this afternoon’s Lionsgate Q1 2026 earnings call, CEO Jon Feltheimer was asked about the elephant in the room, and that was whether there was an increased sense of urgency now for an M&A opportunity now that Lionsgate and Starz have split. More to the point, there was buzz last month that Legendary and others were kicking the tires at Lionsgate. While Feltheimer didn’t per se address the Legendary noise, he did say, “We understand our earnings power, but also understand the scale that we have, that I ...