New Delhi, Jan. 14 -- Canadian-American entertainment company Starz Entertainment Corp., formerly Lions Gate Entertainment Corporation, has sold Lionsgate Play-its streaming platform in South Asia and Southeast Asia-to Rohit Jain, president of Lionsgate Play Asia.

All other Lionsgate film and television businesses in India and Southeast Asia will remain with the studio. Jain will transition fully to managing Lionsgate Play and exit Lionsgate as part of the transaction, the company said in a statement.

The deal places Lionsgate Play under founder-led ownership, with a sharper focus on Asia's fast-evolving digital entertainment market, the company added.

Lionsgate Play is estimated to command a subscriber base of 5 million and has invest...