Lions Gate will not give Icahn board representation

By Lisa Kerner

Charlotte, N.C., March 11 - Lions Gate Entertainment Corp. and Carl C. Icahn failed to reach an agreement that would put Icahn's designees on Lions Gate's board of directors, both parties announced on Wednesday.

According to Icahn, talks ended "because agreement could not be reached concerning certain aspects of the standstill agreement that Lions Gate demanded as a condition to installing those board members."

Lions Gate said it could not meet Icahn's requests and continue to serve the best interests of all of the company's shareholders.

On Feb. 23, Icahn reported a 14.28% stake in the Santa Monica, Calif., entertainment studio.

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