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Icahn Launches Save Lions Gate Site

Carl Icahn, the Lionsgate shareholder waging a hostile takeover of the studio, has launched a website called "Save Lions Gate," reports Variety.

Carl Icahn, the Lionsgate shareholder waging a hostile takeover of the studio, has launched a website called "Save Lions Gate," reports Variety. The site posts details of Lionsgate's debt-for-equity swap, which decreased Icahn's stake in the company to 33% and raised Mark Rachesky's to 29%. The site claims the deal cost shareholders $14.5 million, while Lionsgate has stated it saved $3.2 million in interest.

The site boasts the claim that Icahn Group would have grown a $100 investment in the company to $145 instead of the current board, which turns $100 into $56.

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