Lions Gate Entertainment completed the full separation of the Lionsgate Studios and Starz businesses into two standalone, publicly traded companies.

Lionsgate and Starz have been working on a separation for the last three years, but the pandemic and the WGA and SAG-AFTRA strikes slowed things down. The split is intended “to ultimately create more market value for both,” per Deadline.

Lions Gate Entertainment (NYSE:LGF.A) (NYSE:LGF.B) fully splits its studio and premium TV businesses into two stand-alone publicly traded companies Tuesday, after receiving final court approval on the long-running plan.