Hedge Funds

Icahn group targeting Time Warner


Carl Icahn and several hedge funds are believed to be close to making a filing to the SEC now that the group holds more than 5% of Time Warner's stock. The group is preparing to outline its plans for improving the stock performance of the entertainment company.

According to the L.A. Times, Wall Street sources said Icahn was preparing to inform the SEC in a filing that he has assembled a group of Time Warner shareholders holding more than 5% of the company's stock.

In the filing, Icahn is expected to call for Time Warner to expand a stock