Icahn's Oscar pick: The saga continues

Sun Oct 1, 2006

Hedge funds and Hollywood are colliding in bigger and bolder ways. And the latest installment may be the most interesting plot twist yet. This chapter is about hedge fund raider Carl Icahn and his growing stake in the last publicly traded stand-alone motion picture company out there - Lions Gate Entertainment: Never heard of it? That's Lions Gates' problem - no name recognition. And despite producing some big blockbusters, such as Academy award winner "Crash," Lion's Gate's NYSE-traded stock has remained cheaper than the price of admission in most big cities, stuck in the $8 to $9 range for 18 months.

But the studio's moneymaking properties - like the gruesome but profitable "SAW" horror movie franchise, with a third installment in the pipeline - caught the attention of Icahn. And his fund shop Icahn Management has gobbled up 4.1 million shares of Lions Gate Entertainment, making the fund one of the studio's...

ISSN: 2151-1845 / CDC10004H

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