Lionsgate’s Michael Burns Won’t Discuss Summit But Predicts 2012 Normalcy: UBS Confab

Lionsgate SummitLionsgate 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 Communications Conference. He noted, though, that a consolidation of independent film and TV companies is “a natural thing to happen.” He assured the group that Lionsgate is only interested in deals that add to its value, and don’t require it to either issue stock or take on additional debt. “We’re looking to delever, not lever up,” he says.

With that out of the way, he spoke candidly about the company’s plans for next year where he says “you’ll see us steady state for the first time” cranking out about a dozen movies and about three new TV shows. He’s encouraged about a plan to develop a TV series for ABC based on The Lincoln Lawyer – and Charlie Sheen’s Anger Management. ”I’ve known Charlie a long, long time,” Burns said. “Our goal is to keep Charlie working, keep him healthy — and we have a great partner in FX.” Burns says that a series it’s developing for Read More »

Comments (0)

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 … Read More »

Comments 48

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 … Read More »

Comments (3)

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 – … Read More »

Comments (19)

Carl Icahn Now Owns 33.9% Of Lionsgate

icahn lgThe 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 … Read More »

Comments (3)

Michael Burns And Carl Icahn Break Bread

icahn lgEXCLUSIVE: 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 … Read More »

Comments (0)