PJT Partners Investment Banking Pitch Book
Combination Rationale with Solar
The combination of Solar and Lunar creates a diversified media platform with motion picture and
television content, cable and OTT distribution, enhanced scale and an opportunity to optimize capital
structure and operating costs.
Premium Content and
Production Capabilities
Affiliate Relationships
Cost Rationalization
Confidential
Cash Flow Diversification
Further augments extensive Lunar film and television library and upcoming slate properties
with success of emerging Solar original programming (Outlander, Power)
Enhanced scale and attractiveness to affiliates (ATT/DTV, Charter/TWC, Verizon, Comcast,
etc.)
Meaningful cost saving opportunity with ability to leverage studio operations and back
office functions including G&A savings, production efficiencies, packaged media savings,
marketing efficiencies, savings on benefits related to scale, shared services
Solar business model offers enhanced cash flow stability with contracted revenue streams
from affiliates and mitigates inherently variable motion picture cash flows
PJT Partners
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