Icahn Ups Lionsgate Stake

SANTA MONICA, October 21:
Billionaire financier Carl Icahn shelled out $86.3 million to more than double
his stake in Lionsgate from 3.7 percent to 9.2 percent, for a total of 10.8
million shares.

The move makes Icahn’s
firm the fourth-largest investor in the independent studio behind MHR Fund
Management, Steinberg Asset Management and Capital Research Global Investors.
Icahn has reportedly scheduled talks with Lionsgate management about the
direction of the studio.

"We value Carl's
input about strategic opportunities and have had dialogue with him about those
opportunities," Jon Feltheimer, the co-chairman and CEO, is quoted as saying. "However, there
is nothing specific we can talk about at this time."

—By Mansha Daswani