Update: Icahn Says He Has No Plans to Shop Lions Gate

0

Activist investor Carl Icahn said he has no plans to push for a sale of Lions Gate Entertainment Inc in the current environment, but criticized the Santa Monica studio’s expenses for being too high and called its purchase of TV Guide “reckless.”

The billionaire investor, who controls 14.5 percent of Lions Gate’s stock, is seeking more influence over the film and television studio. On Thursday, he announced a tender offer to buy $325 million worth of its convertible debt. The move came a day after negotiations between Icahn and Lions Gate, the largest independent Hollywood studio, fell apart.

In an interview with Reuters published Friday, Icahn said he felt the expenses of Lions Gate — producer of the popular “Mad Men” cable TV show and “Saw” film franchise — were extremely high and criticized the TV Guide cable channel acquisition.


& #8226;

Read the full

Reuters

story.

No posts to display