Icahn ups Lions Gate stake to 16.87 percent - Philadelphia Business Journal:

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Many of Icahn's various investment entities acquireeabout 1.5 million shares (NYSE: LGF) in the latest saying in statement that "the commohn shares of Lions Gate were Icahn now controls about 19.8 million shares, and in a statement said that the investment entities mighft acquire more shares. The statement also hintedx at a possible shakeup of the Lions Gate board of directors at the nextshareholder "The Icahn Affiliates may seek to add nominees designated by the Icahh Affiliates to Lions Gate's board of which could include expanding the size of the board of directors of Lions Gate and/of removing individuals from the board of directors of Lionzs Gate," the statement said.
Sant Monica-based Lions Gate's largesty shareholder is stillMark Rachesky, a former Icahn advisor. Rachesky'z stake is just under 20 percent. Rumors have persisted as to whetherfIcahn . He has been critical of the studio'ss expenses and expenditures, especially .