Lionsgate’s Biggest Shareholder Becomes Co-CEO/Chairman

15 Sep, 2011 By: Erik Gruenwedel

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Mark Rachesky, a former protégé of Carl Icahn and Lionsgate’s largest individual investor, Sept. 15 was named co-chairman of the Santa Monica, Calif.-based mini-major.

Rachesky joins Jon Feltheimer, who is CEO and co-chairman.

The investor, who owns 37% of Lionsgate, was instrumental in the studio thwarting repeated attempts by Icahn to wrest control.

Notably, Rachesky agreed to buy 11 million shares of Icahn’s stake after the maverick investor agreed to sell all his shares in late August.

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