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July 12, 2010 by · Leave a Comment 

Lions Gate Entertainment and maverick investor Carl Icahn said on Friday that they had agreed to a ten-day truce so that they could “work together on certain acquisition opportunities.” A lengthy legal document filed with the SEC failed to spell out what sort of acquisition opportunities the two sides might be working together on — Lions Gate is known to have its eye on MGM — but went into great detail about what they would not do during the truce period. The agreement immediately touched off speculation that it could result in the departure of CEO Jon Feltheimer and other executives from the company and the appointment of Icahn’s son Brett to head Lions Gate. But an unnamed source told Home Media magazine, “Reports about the management shakeup are wrong, if anything, this [agreement] would be a step in the opposite direction.”