You are viewing the archive: “Carl Icahn Shares”

Lionsgate Says It Sees Losses From ‘Conan The Barbarian’, ‘Warrior’, And ‘Abduction’

By DAVID LIEBERMAN, Executive Editor | Monday September 26, 2011 @ 12:24pm PDTTags: Carl Icahn, Carl Icahn Lionsgate Share Offer, Carl Icahn Proxy Fight, Carl Icahn Shares, Lionsgate, Michael Burns, Michael Burns Carl Icahn

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.

Comments 48

Carl Icahn Continues To Buy Lionsgate Stock Ahead Of Shareholder Meeting

By DAVID LIEBERMAN, Executive Editor | Thursday August 18, 2011 @ 4:34pm PDTTags: Carl Icahn, Carl Icahn Shares, Icahn Lionsgate Stock, Lionsgate

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 … Read More »

Comments (3)

Carl Icahn Buys More Lionsgate Stock; Does He Plan Another Run?

By DAVID LIEBERMAN, Executive Editor | Friday August 12, 2011 @ 3:05pm PDTTags: Carl Icahn, Carl Icahn Shares, Lionsgate, Lionsgate Stock

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 … Read More »

Comments (4)

Icahn Injunction Against Lionsgate Rejected

By NIKKI FINKE, Editor in Chief | Thursday December 9, 2010 @ 2:34pm PSTTags: Carl Icahn, Carl Icahn Proxy Fight, Carl Icahn Shares, Lionsgate, Lionsgate Carl Icahn, Lionsgate Shareholders, Lionsgate Shareholders Meeting

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% and increasing studio board … Read More »

Comments (3)

Lionsgate Losing Proxy PR Battle To Icahn

By NIKKI FINKE, Editor in Chief | Thursday December 9, 2010 @ 7:42am PSTTags: Carl Icahn, Carl Icahn Lionsgate Board, Carl Icahn Proxy Fight, Carl Icahn Shares, Lionsgate, Lionsgate Finance, Lionsgate Shareholders, Lionsgate Shareholders Meeting

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 … Read More »

Comments (4)

Carl Icahn Extending Lionsgate Offer

By THE DEADLINE TEAM | Tuesday November 23, 2010 @ 8:42am PSTTags: Carl Icahn, Carl Icahn Lionsgate Share Offer, Carl Icahn MGM Debt, Carl Icahn Shares, Carl Icahn Tender Offer, Lionsgate, Lionsgate Carl Icahn, Lionsgate Finance, MGM Debt

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 Lionsgate for … Read More »

Comments (4)

Carl Icahn Extends Lionsgate Share Offer

By MIKE FLEMING JR | Friday November 12, 2010 @ 12:59pm PSTTags: Carl Icahn, Carl Icahn Lionsgate, Carl Icahn Lionsgate Share Offer, Carl Icahn MGM, Carl Icahn MGM Debt, Carl Icahn Shares, Lionsgate, Lionsgate Finance, Lionsgate MGM, Lionsgate Stock, Lionsgate Tender Offer, Movies
Mike Fleming

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%, … Read More »

Comments (3)

Lionsgate Sues Carl Icahn, Says He Was Playing A “Double Game”

By THE DEADLINE TEAM | Thursday October 28, 2010 @ 3:44pm PDTTags: Carl Icahn Lionsgate, Carl Icahn Lionsgate Lawsuit, Carl Icahn Lionsgate MGM Merger, Carl Icahn Shares, Lionsgate, Lionsgate MGM Merger, Lionsgate Shareholders, Lionsgate Shares, MGM Debt, MGM Spyglass, Movies

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 … Read More »

Comments 23

Carl Icahn Makes Another Offer To Buy Up Even More MGM Debt

By THE DEADLINE TEAM | Tuesday October 26, 2010 @ 1:45pm PDTTags: Carl Icahn, Carl Icahn Lionsgate MGM Merger, Carl Icahn Shares, Carl Icahn Tender Offer, Gary Barber, Lionsgate Carl Icahn, Lionsgate Finance, Lionsgate MGM, Lionsgate MGM Merger, MGM Bankruptcy, MGM Spyglass, Movies, Roger Birnbaum

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, … Read More »

Comments (10)

Icahn Makes Offer To Buy More MGM Debt To Expedite Merger

By THE DEADLINE TEAM | Thursday October 21, 2010 @ 12:42pm PDTTags: Carl Icahn, Carl Icahn Lionsgate MGM Merger, Carl Icahn MGM, Carl Icahn Shares, Gary Barber, Lionsgate Carl Icahn, Lionsgate MGM Merger, MGM Bankruptcy, MGM Creditors, MGM Debt, MGM Finance, MGM Spyglass, Movies, Roger Birnbaum, Spyglass

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 … Read More »

Comments (3)

Lionsgate Nixes Icahn’s $6.50 Share Offer

By NIKKI FINKE, Editor in Chief | Monday August 2, 2010 @ 3:16pm PDTTags: Carl Icahn Proxy Fight, Carl Icahn Shares, Lionsgate, Lionsgate Board of Directors, Lionsgate Carl Icahn, Lionsgate Tender 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.

Comments (1)

Icahn Files Lawsuit Against Lionsgate Board

By NIKKI FINKE, Editor in Chief | Monday July 26, 2010 @ 4:05pm PDTTags: Carl Icahan Hostile Takeover, Carl Icahn, Carl Icahn Canadian Petition, Carl Icahn Lionsgate Lawsuit, Carl Icahn Proxy Fight, Carl Icahn Shares, Carl Icahn Tender Offer, Icahn Lionsgate Stock, Lionsgate Annual Meeting, Lionsgate Board of Directors, Lionsgate Carl Icahn, Lionsgate Debt-For-Equity

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 … Read More »

Comments (5)

IT’S WAR AGAIN: As 10-Day Ceasefire Ends, Lionsgate Ponders Icahn’s $6.50 Share Bid

By MIKE FLEMING JR | Tuesday July 20, 2010 @ 7:22am PDTTags: Carl Icahn, Carl Icahn Shares, Carl Icahn Tender Offer, Lionsgate, Lionsgate Board of Directors, Lionsgate Carl Icahn, Lionsgate Finance, Lionsgate Management, Lionsgate Tender Offer, Poison Pill Defense
Mike Fleming

UPDATED: What came out of the 10-day cease fire between Carl Icahn and Lionsgate management? An offer by Icahn to buy the company for $6.50 a share. Considering that Icahn acquired over 30% of the company by offering $7 per share — Lionsgate management called that sum inadequate … Read More »

Comments (6)

Can Lionsgate Cap Icahn Shares At 38%?

By NIKKI FINKE, Editor in Chief | Thursday July 1, 2010 @ 8:56pm PDTTags: Carl Icahn, Carl Icahn Shares, Jon Feltheimer, Lionsgate, Lionsgate Finance, Lionsgate Hostile Takeover, Lionsgate Management, Lionsgate Stockholders, Lionsgate Tender Offer, Michael Burns, Poison Pill Defense

feltheimer-200Welcome to the real-life game of Survivor: Wall Street. Lionsgate management tonight is trying to outwit, outplay, and outlast Carl Icahn before he effects a hostile takeover of the movie/TV studio for his son Brett. Lionsgate tonight announced it’s putting into place a “Shareholder Rights Plan” — i.e. a poison pill defense — to cap Icahn at 38% of its stock (he is currently at 37.9%) so he can’t do a “creeping bid” through open market purchases like he did today or private market transactions. ”If he wants control of the Company, he should make a bid that is fair to all shareholders along the lines of a permitted bid described in the press release below,” a studio insider tells me.

icahn200Today, Icahn’s stake rose to 37.9%, or 44.8M shares, of Lionsgate. With 12+% more stock, he can become its majority stockholder. And then Lionsgate’s 12-member board, and the studio’s management team of Jon Feltheimer and Michael Burns, all have a target on their backs. Icahn’s $7 a share tender offer expired at midnight Wednesday, and left him with a 33.9% stake in Lionsgate. (Icahn Now Owns 33.9% Of Lionsgate) Today, he acquired an additional 4% more of the company by buying on the open market. Lionsgate’s immediate reaction was effectively to enact a poison pill defense. But it enacted a poison pill months ago — to prevent Icahn from accumulating over 20% of Lionsgate stock through his tender offer — and Canadian regulators nixed that measure. Can that happen again?

Here is tonight’s Lionsgate statement:

lionsgate-logoSANTA MONICA, Calif., and VANCOUVER, British Columbia, July 1, 2010 — Lionsgate (the “Company”) today announced that its Board of Directors has adopted a Shareholder Rights Plan that is designed to encourage the fair and equal treatment of Lionsgate’s shareholders in connection with any initiative to acquire effective control of the Company.

Read More »

Comments (9)