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UPDATE: Lions Gate Responds To Icahn Criticism

As you likely know Carl Icahn and Lions Gate are currently embroiled in an all out battle over control of the company.

Both Icahn and Lions Gate vice chairman Michael Burns presented their cases on the Halftime Report. (Click here to go to Carl Icahn Spars with Lions Gate Chair)

Because we spoke with Burns first then Icahn, the LionsGate chairman didn’t have a chance to respond to some serious criticism - "something that could be a game changer if Icahn gets his way," says host Melissa Lee.

Here’s a portion of what Icahn said was wrong at Lions Gate:

“What I learned from the movie business is that you don’t produce movies in a small company. What you should be doing is… getting into distribution. Buying and acquiring movies, cheaply, the one’s the win the festivals.

On Fast at 5 Burns replied.

“A lot of movies that we release are movies that we picked up at festivals. Rabbit Hole which is coming out with Nicole Kidman was a pick-up. So was Precious.” And he goes on to say “you can’t just rely on picking up movies at festivals you have to have your own pipeline of internally produced pictures, as well.”

Check out our entire conversation with Burns. Watch the video above.


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