Friday, August 23, 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. […]

LIONSGATE CONSUMMATES MARRIAGE WITH SUMMIT

January 13, 2012 by · Leave a Comment 

Lionsgate has agreed to acquire Twilight studio Summit Entertainment in a deal said to be worth $412.5 million. In an announcement late today (Friday), Lionsgate Co-chairman and CEO Jon Feltheimer and Vice Chairman Michael Burns said, “We are uniting two powerful entertainment brands, bringing together two world-class feature film franchises, to establish a commanding position […]

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 […]

THE (STUDIO) LIONS SPEAK TONIGHT

July 14, 2010 by · Leave a Comment 

The mating dance of Hollywood’s two lions, Lions Gate Entertainment and MGM, the home of Leo the Lion, has resumed. According to Bloomberg News, Lions Gate Vice Chairman Michael Burns has been meeting with some of the investors who hold part of MGM’s $3.7-billion debt. The wire service said that the recent truce between Lions […]

ICAHN NOW HOLDS 37.9 PERCENT OF LIONS GATE

July 2, 2010 by · Leave a Comment 

Carl Icahn now owns enough shares in Lions Gate Entertainment to call the shots in many of the company’s dealings, after raising his stake to 37.9 percent by buying 4.6 million shares of the company on the open market Wednesday after his tender offer closed on Tuesday. He will now be able — if he […]