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Lionsgate Leadership Shakeup: Chief Strategy Officer Noel Hedge Departs

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  Published in Media and Entertainment on Monday, January 5th 2026 at 10:59 GMT by Deadline.com

Lionsgate Shakes Up Leadership: Chief Strategy Officer Noel Hedge Departs Amidst Restructuring & Streaming Concerns

Lionsgate is undergoing a significant leadership shuffle as Chief Strategy Officer Noel Hedge has unexpectedly resigned from his position, effective immediately. The move, announced late last week and detailed by Deadline ([ https://deadline.com/2026/01/lionsgate-noel-hedges-exit-1236661914/ ]), comes amidst a broader internal restructuring at the studio and heightened scrutiny over its streaming strategy, particularly concerning the future of Starz. Hedge’s departure signals a potential shift in direction for Lionsgate as it navigates a challenging media landscape.

Noel Hedge joined Lionsgate just two years ago, in January 2022, bringing with him a wealth of experience from prior roles at Amazon and Guggenheim Partners. He was brought on board to spearhead the studio's strategic initiatives, focusing heavily on identifying potential acquisitions, streamlining operations, and driving growth within its streaming assets, particularly Starz. His arrival was seen as a boost for Lionsgate, signifying an intent to modernize and sharpen its competitive edge in a rapidly evolving industry. He was instrumental in the failed attempt to acquire AMC Entertainment, highlighting his focus on strategic expansion (as noted in Deadline’s reporting).

However, Hedge's tenure has been marked by growing tensions with CEO Jon Felcher and other senior executives. The core of these disagreements reportedly centered around the future of Starz, a critical but increasingly problematic component of Lionsgate’s overall strategy. While Felcher appears committed to retaining Starz as a standalone streaming service – despite its relatively small subscriber base compared to industry giants like Netflix or Disney+ - Hedge was believed to be advocating for alternative solutions, including potentially spinning off the streamer or even selling it outright.

The Deadline article emphasizes that Hedge’s departure wasn't entirely unexpected within Lionsgate. Sources inside the company suggest a growing disconnect between his vision and Felcher’s more conservative approach. The failed negotiations surrounding AMC Entertainment further exacerbated these differences, with Hedge reportedly pushing for a more aggressive acquisition strategy than Felcher was comfortable with.

The timing of Hedge’s exit is particularly significant given the current state of Lionsgate's streaming business. Starz has consistently struggled to attract and retain subscribers, resulting in substantial losses for the studio. As reported by Variety ([ https://variety.com/2023/digital/news/lionsgate-starz-streaming-losses-1235769844/ ]), Starz lost $1 billion in the last fiscal year alone, a figure that underscores the financial burden it places on Lionsgate. The company has been exploring various options to address these losses, including content licensing deals and potential partnerships, but a definitive solution remains elusive.

Felcher’s steadfast commitment to keeping Starz is partly rooted in the belief that its valuable international distribution rights – encompassing not only original Starz programming but also Lionsgate's broader film and television library – are too valuable to relinquish. Selling Starz would mean forfeiting control over these lucrative revenue streams, a prospect Felcher appears unwilling to accept. However, Hedge’s perspective likely factored in the escalating costs of maintaining a standalone streamer versus the potential financial benefits of leveraging those distribution rights through a different model.

The immediate impact of Hedge's departure is a void at the top of Lionsgate’s strategic planning. The studio has not yet announced a replacement and will reportedly redistribute his responsibilities among existing leadership, at least in the short term. This suggests that Felcher intends to maintain the current strategic direction, reinforcing the commitment to Starz and a more cautious approach to acquisitions.

Looking ahead, Lionsgate faces continued pressure to demonstrate profitability and navigate the complexities of the streaming era. The studio's ability to successfully manage its assets, particularly Starz, will be crucial for its long-term viability. While Hedge’s departure eliminates one potential voice advocating for a more radical shift in strategy, it also underscores the challenges facing Lionsgate as it strives to balance financial realities with ambitious growth aspirations. The situation highlights a broader trend within Hollywood: studios grappling with the economics of streaming and reassessing their strategies in response to changing consumer behavior and market dynamics. The next few months will be critical for Lionsgate as it solidifies its leadership team and charts a course forward, potentially revealing more about Felcher’s long-term vision for the studio's future.

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