Corporate raider/shareholder activist Carl Icahn is still at it. I’ve learned he bought another 291,000 shares of Lionsgate common stock at the price of $4.968 on Friday. So he now owns 21,162,432 shares, raising his ownership of the company to near 18%. Presumably, Icahn still wants to give one of the four Lionsgate board seats he’s been unsuccessfully seeking to his son Brett. Lately, the studio has been performing poorly both at the box office and for its stock price. Lionsgate is set to announce earnings this Tuesday, and I’m told the numbers will be no better than flat. Here’s more bad news for the company: with MGM and Miramax for sale, and bids reportedly coming in low, the value of libraries has plummetted in just the past few months.
Carl Icahn Still Buying Up Lionsgate Stock
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