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 the unusual forecast in a prospectus to sell 19.2M shares, which stems from its agreement to help billionaire Carl Icahn unload most of his holdings in the company. The arrangement ended Icahn’s effort to take control. Vice Chairman Michael Burns is meeting with investors who might want to buy the shares. Lionsgate stock was unchanged in mid-day trading.
By DAVID LIEBERMAN, Financial Editor | Monday September 26, 2011 @ 3:24pm EDTTags: Carl Icahn, Carl Icahn Lionsgate Share Offer, Carl Icahn Proxy Fight, Carl Icahn Shares, Lionsgate, Michael Burns, Michael Burns Carl Icahn
For all of Deadline's headlines, follow us @Deadline on Twitter.
This article was printed from http://www.deadline.com/2011/09/lionsgate-says-it-sees-losses-from-conan-the-barbarian-warrior-and-abduction/