Home Media Magazine » Icahn Seeks Buy 325m Lionsgate Debt 15004
Font Size: A A A

Icahn Seeks to Buy $325M Lionsgate Debt


By Erik Gruenwedel | Posted: 12 Mar 2009

Less than 24 hours after ending discussions to place representatives on Lionsgate’s board, activist investor Carl Icahn March 12 issued a statement after the market close indicating a desire to acquire the Santa Monica, Calif.-based mini-major’s long-term debt.

Icahn said he would make an offer to acquire $150 million of convertible senior subordinated notes due 2024 and $175 million of convertible senior subordinated notes due 2025, according to The Associated Press.

Rumors suggest Icahn’s move is a precursor to a possible hostile takeover or forced sale of Lionsgate, which lost more than $93 million in the most recent quarter.

A Lionsgate representative was not immediately available for comment.

Related Stories :

Analyst: Icahn Believes in Lionsgate, Management
Reports: Icahn Ups Lionsgate Scrutiny
Icahn Terminates Lionsgate Talks

User comments


Sign up for our Daily newsletter to receive breaking entertainment news and other features.


Should movies be released on home video the same time they open in theaters?

Submit Vote
- OR -
Click here to view results


Send us video clips of home entertainment industry events and parties