July 10, 2010 |
Lions Gate Entertainment and Carl Icahn are hitting the pause button on their battle for control of the movie and television production company. They will spend the next 10 days searching for common ground on potential mergers and acquisitions, according to a letter sent to Icahn by Lions Gate Vice Chairman Michael Burns on Friday.
March 22, 2000 |
Jon Feltheimer has been named vice chairman and chief executive of Lions Gate Entertainment, the Vancouver, Canada-based entertainment company and distributor of independent films such as "Dogma" and the upcoming "American Psycho." Feltheimer, who until last year was president of Sony Pictures Entertainment's television group, became a director of Lions Gate in January, after spearheading a $33-million round of financing for the company.
May 27, 2006 |
Could Hollywood's last remaining independent studio become billionaire investor Carl Icahn's next prey? The veteran corporate raider has accumulated a stake of nearly 4% in Lions Gate Entertainment Corp., the company behind the Oscar-winning film "Crash" and the horror franchise "Saw." Icahn has built an $8-billion fortune buying shares of underperforming companies such as Blockbuster Inc. and TWA and pressuring them to sell off assets or cut costs to lift share prices.
August 10, 2005 |
Two weeks after announcing disappointing financial results, Beckman Coulter Inc. reversed course by revising its second-quarter profit upward to reflect a lower tax rate. The Fullerton maker of medical testing equipment said net income for the quarter was $55.2 million, up from the $47.7 million it initially reported. The higher figure stems from a second-quarter tax rate of 14.6%, not the 26.2% rate the company reported in July.
May 18, 2010 |
Lions Gate Entertainment and activist investor Carl Icahn have begun settlement talks to end their long-running fight for control of the company. In a filing with the Securities and Exchange Commission on Monday, the Santa Monica movie and TV studio acknowledged for the first time that it is in discussions with Icahn and may soon begin formal negotiations. Icahn has put a specific proposal on the table, which will be considered by a special committee of the Lions Gate board of directors, people familiar with the matter said.
May 8, 2010 |
Lions Gate Entertainment's plan to poison Carl Icahn's attempted hostile takeover of the Santa Monica film and television studio has been given the death knell by a Canadian court. The British Columbia Court of Appeal on Friday dismissed Lions Gate's attempt to reinstate a "poison pill" that would have prevented activist investor Icahn from acquiring the company, best known for Tyler Perry films and the cable series "Mad Men." The poison pill was annulled by a provincial regulatory body two weeks ago. Although it's headquartered in Santa Monica, Lions Gate is legally domiciled in Vancouver, giving authorities there jurisdiction.
July 20, 2010 |
Peace didn't last long. Activist investor Carl Icahn has launched a new hostile takeover offer for film and television studio Lions Gate Entertainment at $6.50 per share, ending a 10-day dÃÂÃÂ©tente in which the two sides ceased hostilities to discuss merger and acquisition opportunities for the company. Icahn is already Santa Monica-based Lions Gate's largest stockholder, with 38% of the company, due to shares accumulated in a previous $7-per-share tender, which expired June 30. His new offer positions him to potentially seize control of the company, which has seen its stock price drop to close to $6 since Icahn's bid expired.
June 24, 2010 |
Lions Gate Entertainment, the embattled studio under siege from dissident investor Carl Icahn, has been holding merger discussions with the management of beleaguered Metro-Goldwyn-Mayer, according to people close to the situation. The talks, if successful, could result in a powerful independent studio with a library of thousands of movies and television shows that would be run by Lions Gate's management team. People with knowledge of the discussions said that Lions Gate Chief Executive Jon Feltheimer and Vice Chairman Michael Burns were pursuing a merger with MGM to fend off a takeover attempt by Icahn, who has accumulated nearly one-third of Lion Gate's stock and has threatened to wage a proxy war to gain control.
October 11, 2002 |
To the world's largest entertainment companies, the controversial Kazaa file-sharing network is Public Enemy No. 1--a wildly popular source of free, downloadable music and movies. But to Lions Gate Entertainment, an independent film studio based in Marina del Rey, Kazaa is the means to a more profitable end. Breaking ranks with mainstream Hollywood, the company is using Kazaa to promote its big fall film through the Internet--with the financial help of Microsoft Corp.
January 14, 2010 |
Lions Gate Entertainment has taken a lead in the bidding for "Terminator," but competition for rights to the 26-year-old science fiction franchise is likely to heat up in the next month. In a federal Bankruptcy Court filing Wednesday, Halcyon Group, the independent production company owned by Derek Anderson and Victor Kubicek, asked a judge to approve naming Lions Gate as "stalking horse" bidder for the "Terminator" rights. The two producers put the film rights up for sale in September to raise cash as they work their way out of Chapter 11 reorganization.