Icahn ups stake in Lions Gate Entertainment to 14.28%

By Lisa Kerner

Charlotte, N.C., Feb. 23 - Carl C. Icahn and his affiliates including High River LP raised their stake in Lions Gate Entertainment Corp. to 14.28% from 11.95% on Feb. 17.

Icahn's representatives have had discussions with Lions Gate and may continue to have discussions with the Santa Monica, Calif., entertainment studio, according to an Icahn statement released on Monday.

In addition, the Icahn affiliates said they may seek to add nominees to, or remove individuals from, the company's board of directors at Lion Gate's annual meeting or at a special meeting called by the Icahn affiliates.

The investors bought 2,696,698 shares of Lions Gate between Feb. 18 and Feb. 23 priced from $4.36 to $4.50 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.

Icahn, in a prior SEC filing, reported the purchase of 1,608,428 shares of Lions Gate between Feb. 12 and Feb. 17 priced from $4.21 to $4.31 each.

With the latest purchases, Icahn beneficially owns 16,540,849 shares of Lions Gate.

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