As Lionsgate continues its battle with Carl Icahn and its push to merge with MGM, it reported that it swung to a second quarter loss. The studio announced its earnings after the bell Tuesday — a net loss of 22 cents per share, down from a net profit of 26 cents per share in the year-earlier quarter, and 25 percent higher revenue of $456.3 million.
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Lionsgate stock gained 3.9 percent today as it was added to the Russell 2000 index, effective as of the end of trading. The company's shares finished the week at $7.27, which is notable, considering that Carl Icahn's tender offer is priced at $7 a share. Icahn controls 31.8 percent of shares (as of his tender deadline last Wednesday).
Today he announced he's extended his $7 a share tender offer for Lionsgate—for the third time. Instead of expiring this evening, his tender offer will now expire at 8 pm on June 1. This comes just days after Lionsgate and Icahn sat down for talks on alternative options, talks that don't seem to have gone anywhere.
Forget the dramas they produce on screen, the real life drama involving Lions Gate and Carl Icahn is worthy of a movie, all its own!
Signs that the economy is recovering are popping up everywhere. Here are a few you might have missed: trucker shortages, fancy pens and "jerk" insurance!
In what may be a CNBC first, two adversaries in a hostile takeover attempt went head-to-head on live television!
HE is a billionaire several times over. He has spent the better part of four decades terrorizing corporate chiefs and battling entrenched boards. His name is emblazoned on a stadium on an island in the East River, a laboratory at Princeton, a science center at the Choate Rosemary Hall school in Connecticut and charter schools in the Bronx.
Lawyers for billionaires Donald Trump and Carl Icahn are in court playing a real-life version of Monopoly over who should control some prized Atlantic City property.
After Carl Icahn upped his stake in Lions Gate, market chatter exploded. What must you know about his LGF trade as well as his Amylin and Genzyme stakes?
When it comes to the jobs report, good news is bad news and bad news is bad news, says Gary Kaminsky. What does he mean?