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Lionsgate's Michael Burns Won't Discuss Summit But Predicts 2012 Normalcy: UBS Confab
Lionsgate Vice Chairman Michael Burns had to disappoint analysts who wanted him to open up about the big question of the day for his company: What’s going on with its reported merger talks with Summit Entertainment? “I’m not going to talk about any specific deal,” he said at the UBS Annual Global Media and…
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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…
In Other News: Lionsgate/Icahn, Spidey's Fall Guy, Judith Miller, James Franco And Ailing Borders
The sharp elbowing between Lionsgate and Carl Icahn takes another turn in the courtroom. The Wall Street Journal reports that Lionsgate filed in court to force Icahn to disclose any confidential merger agreements he made with MGM. This continues Lionsgate’s assertion that Icahn was pushing for a merge between…
Carl Icahn Unveils His Lionsgate Board
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…
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By Nikki Finke
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Carl Icahn Now Owns 33.9% Of Lionsgate
The studio sees the glass as half full, putting out a statement that “66% of Lionsgate stockholders support management and rejected Carl Icahn’s $7-a-share tender offer. But after that offer expired last night, Carl Icahn now owns 33.9% of the Santa Monica movie and television studio which he’s been attempting to…
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By Nikki Finke
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Michael Burns And Carl Icahn Break Bread
EXCLUSIVE: Reliable sources tells me that Lionsgate vice chairman Michael Burns flew to NYC on Wednesday night to have dinner with Carl Icahn “to see if they could work together and avert a hostile takeover of the studio”. This is a very big deal because in recent months and weeks the two men have been sparring very…
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By Nikki Finke
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