Saturday, October 31, 2020

STOCKS FALL; MEDIA STOCKS FALL FARTHER

August 19, 2011 by · 2 Comments 

As the overall stock market experienced another plunge in its recent roller-coaster ride, some investors in media stocks hung on for dear life Thursday. The Dow Jones U.S. Broadcasting & Entertainment Total Stock Market Index fell 4 percent, but media companies that rely the most heavily on advertising revenue plunged far more deeply. For a […]

NY COURT TOSSES OUT ICAHN’S LAWSUIT AGAINS LIONS GATE

March 31, 2011 by · Leave a Comment 

Agreeing with a decision by a British Columbia court, the New York State Supreme Court has tossed out a lawsuit brought against Lions Gate Entertainment by dissident investor Carl Icahn. Icahn had sought to overturn a debt-for-equity swap by the company that had reduced his holdings in Lions Gate to 32.8 percent from 38 percent.In […]

ANTIOCO AND ICAHN WRITE BLOCKBUSTER POST MORTEMS

March 22, 2011 by · Leave a Comment 

Former Blockbuster CEO John Antioco and corporate raider Carl Icahn face off in the current edition of the Harvard Business Review in separate articles over the collapse of the movie rental chain. Antioco makes the case that after Icahn bought up 10 million shares of Blockbuster in 2004 he and his handpicked board members began […]

WILL BLOCKBUSTER SHUT DOWN?

February 22, 2011 by · 1 Comment 

In what appeared to some analysts as yet another step toward the disappearance of the familiar blue façades that have been a part of the U.S. retail scene for the past quarter-century, Blockbuster on Tuesday agreed to sell itself to a so-called stalking horse consortium of its debtholders for $290 million in a deal that […]

LIONS GATE FIRES NEW SHOTS AT CARL ICAHN

January 4, 2011 by · Leave a Comment 

Lions Gate Entertainment wants the U.S. District Court in Manhattan to require Carl Icahn to disclose information about whether he entered into a secret agreement with MGM creditors to merge the studio on his terms with Lions Gate, the Wall Street Journal reported today (Tuesday). In its court filing, Lions Gate also accused Icahn of […]

ICAHN PREPARES FOR NEW LIONS GATE BATTLE NEXT YEAR

December 15, 2010 by · Leave a Comment 

In a MacArthur-like “I shall return” pronouncement, Carl Icahn on Tuesday vowed to resume his battle with Lions Gate Entertainment management next year. Noting that the New York Supreme Court had agreed to hold a full trial on his complaint that Lions Gate had wrongfully diluted the value of his shares by conducting what he […]

ICAHN ADMITS DEFEAT — FOR NOW

December 14, 2010 by · Leave a Comment 

Carl Icahn has thrown in the towel in his long fight to take control of Lions Gate Entertainment. He acknowledged on Monday that his unsuccessful effort to persuade a New York court to issue an injunction that would have the effect of blocking the company’s equity-for-debt swap with Mark Rachesky, Lions Gate’s second-largest shareholder behind […]

LIONS GATE BOARD FIRES BACK AT CARL ICAHN

December 9, 2010 by · Leave a Comment 

Approaching a showdown next Tuesday with activist investor Carl Icahn, who has been maneuvering to take control of Lions Gate Entertainment, the company’s board on Wednesday fired off a scathing message to shareholders warning them that Icahn “typically does not make money for shareholders of companies on which he or his representatives have secured board […]

ICAHN SAYS RESULT OF LAWSUIT ALL-IMPORTANT IN LIONSGATE TAKEOVER

December 8, 2010 by · Leave a Comment 

Carl Icahn has conceded that in order for him to win a proxy battle next week to put five nominees of the board of Lions Gate Entertainment, he must win a lawsuit in New York in which he seeks to undo a debt-for-equity transaction by the company that increased the stake of Mark Rachesky while […]

ICAHN LAUNCHES WEBSITE AIMED AT LIONS GATE SHAREHOLDERS

December 7, 2010 by · Leave a Comment 

Perhaps sensing that his bid to take over Lions Gate Entertainment, the parent of Lionsgate Studios, has been greeted unenthusiastically by the news media, Carl Icahn has launched a website, www.SaveLionsGate.com, to present his case. It appears just one week before shareholders at their annual meeting are due to vote on a new board of […]

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