CNBC is crowing about what it’s calling a “first” for the financial network: two adversaries in a hostile takeover attempt who went head-to-head on live television Wednesday. Forget for a moment all the back and forth letters between Lionsgate and its adversarial shareholder Carl Icahn who’s attempting a $575 million buyout offer. Nah, what has me delighted is the very testy back-and-forth between Icahn and studio vice chairman Michael Burns, who defended the studio’s poison pill saying, “This is not a typical pill. If Carl ends up with 50% of the stock that he doesn’t already own, the pill goes away.” Icahn was especially snarky about the studio’s “money-losing movies” of late; “It’s going down a toboggan slide…” And he’s also dismissive of Lionsgate’s apparant pursuit of MGM, saying, “To spend a billion dollars on MGM is absurd.” Above is the video of Carl Icahn, and then Burns comes on air to respond, and the two go after each other live on the air.
Live TV Mudslinging! Lionsgate vs Icahn (I Love The Smell Of Napalm In Hollywood)
What's Hot on Deadline