LIONSGATE SHARES SOAR IN ANTICIPATION OF HUNGER GAMES ROUT

Speculation that The Hunger Games could set a box-office record this weekend has pushed Lionsgate’s stocks to its highest level ever. Shares in the studio rose to $14.50 on Monday and rose an additional 6 percent to $15.09 in late trading today (Tuesday). Only a few months ago they were trading at less than $6.00 and the studio was engaged in a costly takeover battle with corporate raider Carl Icahn. Last August Icahn, who was then Lionsgate’s largest shareholder, dumped some 41 million shares for $7.00. He continues to hold 3.4 million shares, according to Bloomberg News. Previously he had campaigned to force Lionsgate to get out of the movie business and focus on television, where it had shown particular strength. It currently produces the Mad Men series.