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Monday, Dec 11, 2023

Carl Icahn Doubles Stake in Lions Gate

Activist shareholder Carl Icahn has more than doubled his stake in Lions Gate Entertainment Corp., the independent film and TV studio behind the “Saw” horror movies and the cable shows “Weeds” and “Mad Men.”

Icahn said in a regulatory filing that he spent $86.3 million acquiring Santa Monica-based Lions Gate shares, boosting his three-year-old stake in the firm to 9.2 percent. It makes him the fourth-largest investor in Lions Gate behind MHR Fund Management, Steinberg Asset Management and Capital Research Global Investors, which has been a longtime investor.

In a regulatory filing, Icahn said his representatives held talks with Lions Gate Chief Executive Jon Feltheimer and planned additional discussions, but declined to specify what the talks were about.

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Los Angeles Times


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