How Icahn Would Attack Lionsgate

If the billionaire investor gains control of Lionsgate, he'll likely proceed as he's done with companies such as Blockbuster and Time Warner

It's been a long time since Hollywood had a good takeover story to buzz about. Now, it appears that onetime corporate raider Carl Icahn has his sights set on Lions Gate Entertainment (LGF), the studio that brought you the TV show Mad Men and movies such as Crash and the Saw series. With each passing day, it seems, Icahn buys another chunk of Lionsgate, so far bringing his stake to more than 14%. Throw in Icahn's saying that he may ask for a special shareholder meeting to add board members, and you have the same plotline that the savvy investor has used to inch his way toward gaining control of companies from ImClone (IMCL) to Blockbuster (BBI).

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