Investing.com -- Lionsgate Studios shares traded up to 10% higher in after-hours trading on Tuesday following reports that the company has received takeover interest from potential buyers.

The entertainment company, known for producing the "Hunger Games" and "John Wick" franchises, is exploring a sale and has attracted interest from France's Bollore Group, according to a Reuters report Tuesdat.

Lionsgate Studios, which has a market value of approximately $3.8 billion, has been working with an investment bank to evaluate inbound approaches, the report said.

Banijay Group, the television production company behind shows including "Big Brother" and "Survivor," is reportedly among other suitors that have considered a bid for Lionsgate Studios. Banijay completed its merger with All3Media earlier this year.

A potential bid from Banijay may take time as the company remains focused on integrating All3Media, the report added.

Bollore is seeking to strengthen the production capabilities of Canal+, the pay-TV company in which it holds a controlling interest.

A deal is not certain, and Lionsgate could still remain independent.