Latest in Carl Icahn Proxy Fight

People who follow box office results closely won’t be surprised, but Lionsgate made it official today: Conan the Barbarian, Warrior and Abduction were such stiffs that the company says in an SEC filing it expects to announce that it lost somewhere between $40M-$50M in cash flow for the current quarter. Lionsgate made…

Billionaire Carl Icahn did a big favor for Lionsgate execs when he accumulated more than 33% of the stock in June 2010. That triggered change-in-control clauses in executives’ contracts, accelerating their stock payments for the fiscal year that ended this past March. An SEC filing out today shows that Feltheimer…

SANTA MONICA, Calif. and VANCOUVER, B.C. — December 16, 2010 — Lionsgate announced today that IVS Associates, Inc., the independent Inspector of Elections, has released its preliminary report for Lionsgate's 2010 Annual General Meeting of Shareholders held on December 14, 2010. Based on the preliminary tabulation by…

Not surprisingly, Lionsgate is trumpeting the fact that Carl Icahn has been dealt another court loss. The New York State Supreme Court just ruled against Icahn’s injunction to unwind Lionsgate’s July 20th deleveraging manuever  that had the effect of diluting Icahn’s stake in Lionsgate from around 37% to around 32.8%…

The Carl Icahn vs Lionsgate proxy war heated up overnight. That’s because two major proxy advisory firms counseled shareholders to support the entire or majority of Icahn’s dissident slate of directors for the embattled TV/film studio. A Lionsgate insider acknowledged to me that the recommendations were a “mixed bag&#8221…

UPDATE: The destabilization of Lionsgate continues. Carl Icahn today took to the Internet and started a website slamming Lionsgate’s board in hopes of replacing 5 of the TV/film studio’s directors with his own rival slate. He also issued an “open letter” to shareholders pointing them there and to its 3 reports: 1)…

UPDATE: Lionsgate has just issued a reaction (see below). It’s now officially a fight between white (LG’s) and gold (Icahn’s) proxy cards. Carl Icahn today assembled his slate of 5 board members hoping to unseat Lionsgate’s current 5 board of directors — including the film/TV studio’s Vice Chairman Michael Burns — at…

BREAKING: In the latest development in Carl Icahn’s attempt to take over Lionsgate and merge its assets with MGM, a Supreme Court judge in British Columbia has dismissed Icahn’s lawsuit to thwart a Lionsgate de-leveraging move on July 20 that took $100 million in debt off the books and converted it into equity, which…

Lionsgate has recommended to shareholders that they spurn Carl Icahn’s latest offer to pay $7.50 for outstanding shares. The company just filed its Schedule 14D-9 Report. The report described a September 7 meeting of the board of directors, which unanimously rejected the offer and voted to recommend that shareholders…

No surprise. Lionsgate announced today its Board of Directors who were present voted unanimously reject Carl Icahn’s $6.50 a share tender offer for all outstanding common stock in the film/TV studio.

Another nasty day in the Carl Icahn vs Lionsgate battle. This time, Icahn has made good on his threat to go to court to overturn the film/TV studio’s recent “scorched earth tactic” that diluted his stock holdings He’s referring to last week’s debt-for-equity swap involving major shareholders Mark Rachesky and John…

Ceasefire Ends; Lionsgate Ponders Icahn’s $6.50 A Share Bid So now Carl Icahn owns only 33.5% of the film and…