Lionsgate: Icahn's Roars Get Louder
Billionaire investor Carl Icahn raised his hostile offer for Lionsgate (LGF) from $6 to $7 a share on Apr. 15, in a bid to gain majority control of the independent film and TV production company. Icahn wants to boot out Lionsgate managers, whom he has criticized for trying to buy other Hollywood studios at a time when movie libraries are losing their value. Lionsgate says it's no longer in the bidding for Metro-Goldwyn-Mayer and has no designs on Walt Disney's (DIS) Miramax unit.