Studio Briefing March 12 2009
ICAHN TO BATTLE LIONS GATE Never one to shrink from a proxy battle, Carl Icahn on Wednesday broke off talks with Lions Gate Entertainment Corp. after the company’s board of directors refused to give his designees seats on the board. Icahn’s action appears to set the stage for him to ally with sympathetic board members (he is a close friend of Mark Rachesky, head of MHR Fund Management, Lions Gate’s biggest stockholder) in a fight to take control of the company that is best known as the producers of the Sawhorror films, the Tyler Perry flicks, and the cable-TV shows Mad Menand Weeds....