Carl Icahn has thrown in the towel in his long fight to take control of Lions Gate Entertainment. He acknowledged on Monday that his unsuccessful effort to persuade a New York court to issue an injunction that would have the effect of blocking The Company's equity-for-debt swap with Mark Rachesky, Lions Gate's second-largest shareholder behind Icahn, and his inability to coax a sufficient number of shareholders to sell their stock to him to give him majority ownership had left him unable to prevail at a proxy vote during today's (Tuesday) board meeting. Icahn said that he will not purchase any of the shares tendered in his latest offer, which was conditioned on the successful outcome of his legal battle. Still, Icahn indicated that he is preparing for a new battle with the company next year, when the New York court holds a full trial in the case. If he prevails, he said, he plans to resubmit his nominations for board membership at the next company meeting in September. In early trading today, Lions Gate shares were down nearly 3 percent to $6.90. They have fallen 8 percent since last week.
The 1969 session, including the only known recording of 'Sunshine Woman' by the band, will be included on a re-issue of 'The Complete BBC Sessions'...
The 55 year old actor joined Chris Martin and co. on stage in New Jersey to perform 'Earth Angel' and 'Johnny B. Goode'.
Bjork Digital comes to London's Somerset House in September, along with a single live show at the Royal Albert Hall.
Kim Kardashian released an audio excerpt from a phone call between Kanye and Taylor Swift over the lyrics of 'Famous' - but if it was recorded...
The BBC drama starring Aidan Turner returns to BBC One on September 4th.