ICAHN’S STAKE IN LIONS GATE NOW 31 PERCENT

Corporate raider Carl Icahn’s raid on Lions Gate Entertainment appears to have edging closer to success. Published reports citing unnamed sources said Wednesday that by 5:00 p.m. PT today (Thursday), when his $7.00-a-share tender offer expires, he will own at least 31 percent of the company — up from 19 percent when he made the offer. News of the development appeared to have little effect on the company’s stock price, which was trading at $6.99 in early afternoon trading.