Carl Icahn Takes Swipe At Lionsgate, Calls Out ‘Liar Gate’ In Latest eBay Tirade

By | Wednesday March 26, 2014 @ 2:11pm PDT

Carl IcahnThe bulldog investor has had plenty to say lately about the online auction site’s management. And he continued to vent in a post on his Shareholders’ Square Table site today. But while he was at it, Carl Icahn landed a … Read More »

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Lionsgate Agrees To Pay $7.5M To Settle SEC Charge

By | Thursday March 13, 2014 @ 9:31am PDT

lionsgateRegulators said that Lionsgate failed in 2010 to properly disclose that a financing move it said would reduce debt was actually designed to help thwart activist investor Carl Icahn‘s takeover attempt. The company agreed to pay a $7.5M penalty which … Read More »

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Carl Icahn Ends Apple Stock Buyback Campaign

By | Monday February 10, 2014 @ 7:27am PST

The activist investor declared victory today as he abandoned his campaign for a shareholder resolution that appeared headed for defeat. Carl IcahnHis proposal calling for a larger stock buyback – he put $50B as a Read More »

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Deadline Big Media 69 – The MLB Very Advanced Media Podcast

Deadline Big Media ep 69In this week’s podcast, Deadline’s executive editor David Lieberman and host David Bloom talk about pay-TV services from Amazon and Verizon; a chat with the CEO of MLB Advanced Media, which is also providing the backbone for the online subscription operations of WWE and Sony; the doubtful bears wondering how long Netflix can sustain this last quarter’s massive numbers; whether SiriusXM should cut Howard Stern’s $80 million annual paycheck; and why Carl Icahn thinks Apple needs to roll out a 4K TV, and fast. Oh, and they check in on Charter Communications’ latest maneuvers in its campaign to buy Time Warner Cable.

Listen to the podcast in your choice of audio formats here:
Deadline Big Media podcast 69 (.MP3 version)
Deadline Big Media podcast 69 (.M4A version)
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Carl Icahn Urges Apple To Introduce A 4K TV Set

By | Thursday January 23, 2014 @ 1:32pm PST

The activist investor made his pitch in a letter to fellow shareholders today urging them to support his resolution calling on Apple to increase its share-repurchase plan. “Given that the company has $130 billion of net cash and $40 billion of expected annual earnings, and the fact that it is hard to find a better time in history to borrow money,Icahn headshot a $50 billion share repurchase over the course of fiscal year 2014 seems more than reasonable to us,” Carl Icahn writes — calling this “one of the greatest examples of a ‘no brainer’ we have seen in five decades of successful investing.” He adds that he’s an Apple fan, and over the last two weeks bought $1B of its stock, including $500M today, for a total holding worth about $3.6B. One reason for his optimism is his hope that Apple will finally introduce a TV set that will make it easy for users to watch shows from conventional pay TV and the web, and take advantage of the growing interest in 4K, or Ultra HD, screens. “While cable companies will likely be slow to upgrade their linear TV infrastructure due to cost, video content is expected to be accessible through the internet via services like Netflix and others,” Icahn writes. “We believe ultra high definition represents a major catalyst for the next TV replacement cycle and a promising moment for Apple to introduce its first new product in this category.”

Related: Carl Icahn Takes Another Bite Of Apple
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Carl Icahn Takes Another Bite Of Apple

By | Wednesday January 22, 2014 @ 8:11am PST

The billionaire investor‘s back on the Twitter and CNBC trail today. He said in a tweet this morning that, over the last two weeks, he bought $500M in Apple’s shares, bringing his total to more than $3B. Carl Icahn“Since … Read More »

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Carl Icahn Files Shareholder Proposal For Apple To Repurchase Shares

By | Wednesday December 4, 2013 @ 12:20pm PST

The activist investor disclosed his effort in a tweet — apparently coordinated with a release from Time magazine promoting its new cover story about him where he discusses his proposal. Icahn headshot“I’m not against the management of this company,” he … Read More »

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Take-Two Shares Slip After It Pays Carl Icahn $203.5M For His Stock

By | Tuesday November 26, 2013 @ 8:33am PST

The price is down 4% to $16.26 in mid-day trading after the gamemaker reported the deal to pay the activist investor $16.93 a share for his 12.02M shares — bringing the total number of Take-Two Interactive shares outstanding down to 81M. CEO Strauss Zelnick says that the agreement “reflects our confidence in the Company’s outlook for record results” in the current fiscal year, and leaves Take-Two with enough cash “to pursue a variety of investment opportunities, including repurchasing our Company’s stock.” But some may wonder whether Carl Icahn‘s exiting because he senses that things have peaked for the company behind titles including Grand Theft Auto, Borderlands, and Duke Nukem. Shares are up 31% over the last 12 months but have slipped about 14% since late August. Cowen and Co analyst Doug Creutz downgraded Take-Two to “market perform” last week saying that every major title the company has shipped in recent years “has been delayed at least once, sometimes for multiple years.” It also faces “a significantly uphill battle next year against a crowded industry release slate” which includes Titanfall, Destiny, Call Of Duty, Halo, and Assassin’s Creed. Read More »

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Deadline Big Media With David Lieberman, Episode 56

By | Friday October 25, 2013 @ 5:27pm PDT

Listen to (and share) episode 56 of our audio podcast Deadline Big Media With David Lieberman. Deadline’s executive business editor talks with host David Bloom about giant pay-TV profit margins, Netflix’s big quarter as it moves past HBO in the United States; Carl Icahn’s latest efforts to turn the heat up on Apple; and Apple’s very interesting series of new hardware and software products and what they might mean for Microsoft.

Deadline Big Media, Episode 56 (MP3 format)
Deadline Big Media, Episode 56 (M4a format) Read More »

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Carl Icahn Launches Website And Increases Pressure On Apple To Repurchase Shares

By | Thursday October 24, 2013 @ 8:17am PDT

The activist investor isn’t limited to Twitter and CNBC to broadcast his views. Hot off his $800M windfall this week from the sale of half his Netflix shares, today he introduced a site, Shareholders’ Square Table, where he says he’ll “discuss what can be done to change our current, dysfunctional system of corporate governance” that results in CEOs and boards “that are strangling shareholders and the economy.” His first target is Apple: Icahn published a letter he sent yesterday to CEO Tim Cook repeating a plea for the company to spend $150B to repurchase shares. Over the last month Icahn boosted his Apple stake by 22% to 4.7M shares “reflecting our belief the market continues to dramatically undervalue the company.” He adds that he “could not be more supportive of you, the existing management team, the culture at Apple and the innovative spirit it engenders.” But he’s unhappy with the current pace of buy-backs. “Apple’s Board of Directors does not currently include an individual with a track record as an investment professional,” he says. “In my opinion, any further delay in executing the buyback we hereby propose will reflect this lack of expertise on the board.” If Apple follows his advice, then in three years the share price — which closed yesterday at $524.96 — could appreciate to $1,250. To show that he isn’t in this to make a quick profit, Icahn says that he would “withhold my shares from the proposed $150 Billion tender offer. There is nothing short term about my intentions here.” Read More »

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Carl Icahn Unloads 3M Netflix Shares

By | Tuesday October 22, 2013 @ 2:15pm PDT

Talk about profit taking. The billionaire investor just made about $800M after selling nearly 3M Netflix shares that Icahn Enterprises says was done “in view of the 457% increase in the price of those shares since the original investment at approximately $58 per share.” Netflix hit an all time high of $389.16 early today after it unveiled stronger than expected Q3 results. But it closed at $322.52, -9.2% — with much of the decline likely due to Icahn’s sales. He still has nearly 2.7M shares, equal to about 4.5% of the company votes. He bought his holdings about a year ago, and briefly tangled with CEO Reed Hastings after Netflix adopted a poison pill – a takeover defense designed to prevent Icahn from engineering an unwanted sale. Today Icahn thanked Hastings and Chief Content Officer Ted Sarandos “for a job well done.” He added that “last but not least, I wish to thank Kevin Spacey” who starred in Netflix’ series House Of Cards. Icahn says that as “a hardened veteran of seven bear markets” he knows that “when you are lucky and/or smart enough” to make such a big profit “it is time to take some chips off the table.” But his son, Brett, and another fund manager at Icahn Enterprises, David Schechter, elected to tie some of their compensation to the performance of Netflix shares. They call the $7.99 a month streaming service “one of the great consumer bargains of our time” and say that it “could ultimately raise prices to $9.99 per month over the course of the next five years.” They also are confident that Netflix can enlist as many as 90M domestic subscribers. Between that and growth opportunities overseas “we believe Netflix’s valuation is still relatively low.” Carl Icahn said in a July interview on CNBC that he wanted to sell his shares “100 points ago, and my son threatened to leave” the company. Netflix is down 2.2% in post-market trading following the Icahn announcement

Here’s the release from Icahn Enterprises: Read More »

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Apple Shares Rise After Carl Icahn Says He Pressed Tim Cook For $150B Repurchase

By | Tuesday October 1, 2013 @ 10:09am PDT

The stock is up 2.5% in mid-day trading after the billionaire corporate activist turned to Twitter and CNBC to discuss his dinner last night with Apple CEO Tim Cook. Carl Icahn said in a tweet this morning that he had “a cordial dinner with Tim” and “pushed hard” for the stock buyback. “We decided to continue dialogue in about three weeks.” He now controls nearly $2B in Apple stock, and considers a share repurchase “a no-brainer,” he told CNBC. “I can’t promise you the stock will go up and I can’t promise you they will do the buyback. But I can promise you that I’m not going away until they hear a lot more from me concerning this.” The price is right, he says: Apple shares are down 25.9% over the last 12 months as investors questioned whether it can come up with another blockbuster product to rival the iPhone and iPad. In addition, Apple has a lot of cash — although much of it is parked in other countries with unusually low tax rates. Even so, Icahn says Apple can take advantage of today’s low interest rates and borrow money to buy stock. Read More »

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Carl Icahn Says He’s Meeting With Apple’s Tim Cook About Stock Buyback

By | Thursday August 22, 2013 @ 1:01pm PDT

Billionaire investor Carl Icahn again took to Twitter to chat up Apple — just more than a week after he tweeted he has “a large position” in the computer giant, believes it to be “extremely undervalued” and … Read More »

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What’s Carl Icahn Doing With Apple?

By | Tuesday August 13, 2013 @ 11:43am PDT

UPDATE, 2:57 PM: Apple should repurchase $150B worth of its shares after borrowing the funds at an interest rate of 3%, Carl Icahn tells Reuters. ”If Apple does this now and earnings increase at only 10%, the stock — even keeping the same multiple currently — should … Read More »

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Carl Icahn Has Been “Positive” For Netflix, Exec Says

By | Wednesday December 5, 2012 @ 7:47am PST

The corporate raider, who owns 9.9% of the company’s stock and has lobbied for Netflix to sell itself, has been “supportive,” Chief Creative Officer Ted Sarandos says. “It’s been very positive”, although they haven’t spoken specifically about … Read More »

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Carl Icahn Exercises Netflix Stock Options

By | Monday November 19, 2012 @ 4:55pm PST

The billionaire corporate raider just paid $154.7M for 4,291,066 Netflix shares, he says in an SEC filing. His decision to exercise his call options means he now directly owns 9.98% of the video streaming company — 5,541,066 shares — … Read More »

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Carl Icahn Calls Netflix Poison Pill A “Travesty Of Corporate Governance”: Video

By | Thursday November 8, 2012 @ 3:25pm PST

The activist investor is trying to hang a “For Sale” sign on Netflix after he bought stock and options equal to 9.98% of the company. “It would be the mother of all auctions” if Netflix put itself in play, he says. The company’s effort Read More »

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Netflix Still Way Ahead Of Online Viewing Rivals: Report

By | Wednesday November 7, 2012 @ 7:24pm PST

NetflixNetflix has maintained its dominance of online viewing, defying predictions that competitors would snatch market share, Bloomberg reports. Netflix captured 33% prime-time Web viewing based on Internet traffic in September, beating Amazon.com, Hulu and Time Warner Inc.’s HBO Go … Read More »

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Carl Icahn Calls Netflix Defense An Example Of “Poor Corporate Governance”

By | Monday November 5, 2012 @ 9:50am PST

Carl Icahn NetflixNetflix’s new poison pill has riled the legendary corporate raider, who recently bought stock and options equal to 9.98% of the company. Adopting an anti-takeover defense like this without a shareholder vote “is … Read More »

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