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Latest in Carl Icahn Shares
Lionsgate Says It Sees Losses From 'Conan The Barbarian', 'Warrior', And 'Abduction'
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…
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48 Comments Comment on Lionsgate Says It Sees Losses From 'Conan The Barbarian', 'Warrior', And 'Abduction'
Carl Icahn Continues To Buy Lionsgate Stock Ahead Of Shareholder Meeting
The billionaire shareholder activist isn’t buying a lot — but it’s enough to keep company watchers wondering whether he might challenge Lionsgate’s management at the September 13th investor meeting in Toronto. He bought 53,963 shares this week at about $7 a share, raising his stake slightly to 33.2%, he says in an SEC…
Carl Icahn Buys More Lionsgate Stock; Does He Plan Another Run?
Billionaire Carl Icahn bought 702,877 shares of Lionsgate this week, raising his stake in the movie and TV studio about 0.5% to 33.1%, he says in an SEC filing today. What appears to be his first purchase of the studio’s stock since July 2010 likely will lead company watchers to wonder whether he plans to make another…
Icahn Injunction Against Lionsgate Rejected
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%…
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By Nikki Finke
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Lionsgate Losing Proxy PR Battle To Icahn
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”…
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By Nikki Finke
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Carl Icahn Extending Lionsgate Offer
His $7.50-per-share offer had been set to expire Monday but has been extended to December 2. Icahn is the biggest shareholder in Lionsgate, at 33%. The offer expires on the same day that MGM is supposed to receive confirmation of its bankruptcy plan — Icahn owns 18% of MGM’s debt. Icahn has repeatedly criticized…
Carl Icahn Extends Lionsgate Share Offer
Though Carl Icahn’s attempt to take control of Lionsgate was dealt a setback recently by a Supreme Court judge in British Columbia who dismissed Icahn’s lawsuit to stop a Lionsgate de-leveraging move that pushed his 38% stake down to 33.5%, Icahn is still trying. He’s extended his $7.50 per share offer, which had…
Lionsgate Sues Carl Icahn, Says He Was Playing A “Double Game”
Lionsgate has sued its biggest shareholder Carl Icahn, claiming he publicly opposed a merger between the company and MGM then gummed up the process until he could profit substantially from a potential marriage. Lionsgate claims Icahn publicly said he would oppose the merger, only to turn around and secretly buy up a…
Carl Icahn Makes Another Offer To Buy Up Even More MGM Debt
Carl Icahn has made another offer to MGM lenders in hopes of thwarting the prepackaged bankruptcy plan and Spyglass deal. He’s now offered to buy $1.6 billion in debt at a premium price of 53 cents on the dollar; last week, he offered to buy $963 million in debt. The offer expires Friday — the voting deadline for the…
Icahn Makes Offer To Buy More MGM Debt To Expedite Merger
Calling the proposed Spyglass plan a “presciption for disaster,” Carl Icahn on Thursday offered to buy another $963 million of MGM’s debt. He already owns around $500 million of it, so the sum would make him one of MGM’s largest creditors — with a stake of around 37%. Pending the offer, he would then be in a…
Lionsgate Nixes Icahn's $6.50 Share Offer
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.
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By Nikki Finke
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Icahn Files Lawsuit Against Lionsgate Board
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…
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By Nikki Finke
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