Monday, November 19, 2018

ICAHN’S LIONSGATE EXODUS COST HIM MORE THAN $500 MILLION

January 3, 2013 by · Leave a Comment 

It may go down as corporate raider Carl Icahn’s biggest miscalculation: his decision in 2011 to sell his 33-percent stake in Lionsgate at $7.00 a share after his failed takeover attempt. On Wednesday Lionsgate shares hit an all-time high of $16.88 on the NYSE, at one point hitting $17.08. The 3-percent gain came after B. […]

ICAHN GIRDS FOR WAR WITH NETFLIX CHIEF

November 14, 2012 by · Leave a Comment 

Carl Icahn, who has taken a 10-percent stake in Netflix, has vowed to find a buyer for the video rental company who’ll be willing to pay a hefty premium for its weakened stock and sort out its increasingly perplexing financial model. “There is a very good argument that, at the right premium, somebody should buy […]

NETFLIX ADOPTS POISON-PILL TO PREVENT ICAHN TAKEOVER

November 6, 2012 by · Leave a Comment 

In an apparent effort to prevent corporate raider Carl Icahn from taking over their company, Netflix’s board of directors on Monday adopted a poison-pill plan that would dilute the company’s shares to the point where Icahn would be unable to buy another sizable chunk without board approval. Icahn, who disclosed last week that he had […]

ICAHN GETS OUT OF THE MOVIE BUSINESS

August 1, 2012 by · Leave a Comment 

There was a time when maverick investor Carl Icahn actively backed a merger of Lionsgate and MGM. At the time he was a major stockholder in both companies. But he eventually sold his shares in Lionsgate at a significant loss, just before the studio came roaring back with a series of moneymakers, including The Hunger […]

ICAHN ON HIS LIONSGATE DEBACLE: “YOU CAN’T WIN ‘EM ALL”

March 28, 2012 by · Leave a Comment 

Carl Icahn, who dumped nearly all his shares of Lionsgate last August for about $7 per share, only to see it rise to more than double that amount in recent days following the success of Lionsgate’s The Hunger Games, has waxed philosophical about his unlucky move, which cost him $345 million. Icahn, who at one […]

LIONS GATE ROARS ON WALL STREET

March 21, 2012 by · Leave a Comment 

Shares in Lions Gate Entertainment continued to rise on the Nasdaq today (Wednesday), two days ahead of the opening of Hunger Games, which several analysts are predicting will top $100 million in its opening weekend and perhaps even set a new box-office record. (The current record is held by Harry Potter and the Deathly Hallows: […]

LIONSGATE SHARES SOAR IN ANTICIPATION OF HUNGER GAMES ROUT

March 20, 2012 by · Leave a Comment 

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 […]

REPORT: LIONSGATE TO ACQUIRE TWILIGHT STUDIO

January 9, 2012 by · Leave a Comment 

Having failed in its effort to acquire MGM last year, Lionsgate is expected to announce as early as this week that it will be be buying Summit Entertainment for $400 plus the assumption of $300 million in debt, published reports said over the weekend. Lionsgate had spent much of the past year fending off takeover […]

WITH ABDUCTION TANKING, LIONSGATE WARNS OF BIG LOSSES

September 27, 2011 by · 1 Comment 

This weekend’s failure of Abduction made it three money losers in a row for Lionsgate, and the mini-studio wasted no time in filing a report with the Securities and Exchange Commission saying that, as a result, it now expects to lose $40-50 million in the current quarter. The filing is required by the SEC in […]

ICAHN SHUTS LIONS GATE BEHIND HIM

August 31, 2011 by · Leave a Comment 

The bitter battle between Carl Icahn and the top executives of Lions Gate Entertainment has ended, with Icahn agreeing to sell nearly all of his 33-percent stake in the studio at 7 percent below Tuesday’s closing price and both sides agreeing to drop their lawsuits against one another. Icahn’s surprise move on Tuesday came just […]

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