Lions Gate Entertainment and activist investor Carl Icahn have officially begun settlement talks to end their long-running and acrimonious fight over the future of the company.
In a regulatory filing late Monday, the Santa Monica-based movie and TV studio acknowledged for the first time that it is in discussions with Icahn about a settlement and may soon engage in formal negotiations. Icahn has approached Lions Gate about striking a deal, according to the filing, and people familiar with the matter said the investor has a specific proposal on the table.
The disclosure comes just days before Icahn’s $7-a-share hostile offer to take control of the company is set to expire Friday. Icahn has extended the expiration date twice after receiving a tepid response from shareholders.
• Read the full Los Angeles Times story.
• Read the full Reuters story.