Icahn puts more stock in Lionsgate
FROM VARIETY: Billionaire's stake in mini-major leaps 1.1%
By Dave McNary of Variety -- Video Business, 6/8/2009
JUNE 8 | FROM VARIETY: Carl Icahn has boosted his stake in Lionsgate to 15.6% from 14.5% over the past month in a signal that he could still make a move to control the mini-major.The billionaire, who first began acquiring Lionsgate shares four years ago, disclosed in Securities and Exchange Commission filings Friday that he had acquired shares in May and June at prices between $5.37 and $5.46 a share.
Shares of Lionsgate declined 1¢ Friday to $5.46 on the New York Stock Exchange.
Icahn's intentions toward Lionsgate are unclear after he attracted little interest in April and May from debtholders in his tender offer to acquire the company's convertible debt. He said earlier this year that he was not pushing for a sale of Lionsgate, but he was critical of management for using the Lionsgate's revolving credit line to pay for TV Guide.
Read the full story on Variety.com.
