Tuesday, October 15, 2019

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. […]

WHO’LL STAY AND WHO’LL GO IN LIONSGATE-SUMMIT MERGER?

March 27, 2012 by · Leave a Comment 

The success of Hunger Games coming so soon after Lionsgate acquired Summit Entertainment, the studio responsible for the Twilight franchise, has presented Lionsgate’s top executives with something of a quandary as they consider the new executive lineup of the combined company, the New York Post observed today (Tuesday). Who, for example, will be its next […]

HUNGER WILL BE FEEDING LIONSGATE FOR YEARS

March 26, 2012 by · Leave a Comment 

Analysts are predicting that The Hunger Games will provide a bountiful feast for years to come for Lions Gate Entertainment, which has had a hit-or-miss (mostly miss) record with movies in the past. The Los Angeles Times quoted JP Morgan analyst Monica Dicenso as predicting that the movie will produce at least a $310 million […]

HUNGER GAMES RAKES IN $68.3 MIL IN DEBUT (Update)

March 24, 2012 by · Leave a Comment 

The Hunger Games earned $68.3 million on Friday, Lionsgate said Saturday. The figure topped the loftiest expectations. Daily Variety said that it is now on track to earn more than $140 million for the weekend. (Earlier) Lions Gate Entertainment investors, who have seen their shares in the studio soar in recent weeks on expectations that […]

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 […]

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 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 […]

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 BATTLE PUSHES LIONS GATE INTO THE RED

November 10, 2010 by · Leave a Comment 

Despite a 25-percent rise in overall revenue during its second quarter versus the same quarter a year ago, Lions Gate Entertainment on Tuesday reported that its legal battle with activist investor Carl Icahn contributed to a $30-million loss in the period. Some $20.7 million of that loss was related to a debt-for-equity swap with shareholder […]

ICAHN A LION TAMER?

November 4, 2010 by · Leave a Comment 

Activist investor Carl Icahn may be turning out to be a more influential figure in the resurrection of MGM than earlier reports had indicated. According to today’s (Thursday) New York Post, besides securing for himself a seat on the MGM board (which had been widely reported), Icahn succeeded in obtaining an agreement from MGM’s debtholders […]

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