Lions Gate Rachesky To Mark on board: What does this mean for Icahn?
The two men had a mentor / protégé relationship for some time when investment Rachesky was chief executive of Icahn 1990 to 1996. There may also be a third act in this theater of shadows. Coincidence? That’s because the company thinks Icahn as the proverbial Barbarian In The Door, the man who disguises himself as a shareholder activist when it is actually a corporate raider, the parent who wants Lions Gate as a future world of entertainment for your child . So Gordy Crawford Capital Research Global Investors, which has held its nearly 10% for a long time. Thus, by maintaining a Barbarians at the Gate, Lions Gate did let a fox in the henhouse? What no one seems able to answer is the exact relationship these days between Mark Rachesky of MHR Fund Management and Carl Icahn. But Gordy was thinking of siding with Icahn in Yahoo mess.) The official press release from Lions Gate, which arrived this morning while I was out of the office, says Rachesky support the management slate of Board nominees at the annual meeting of shareholders in SeptemberBut both he and Icahn began buying shares of Lions Gate separately but simultaneously and with a frenzy in recent months: Icahn already owns more than 17.7%, 19.8% Rachesky on. Now hedge funds Rachesky meister has owned the Lions Gate common stock over 5 years. But the question remains whether it is in silent complicity with Carlos, and together they could control the future of Lions Gate. Lions Gate last month rejected Carl Icahn’s efforts to catch a seat on the board despite the Moolah has poured into the collapse of the company stock. Michael A. Steinberg ’s Asset Management Steinberg also has a large position in Lionsgate now. Icahn, however, is poor management of mini-major does not fully exploit its potential (as the huge library) to get its stock price out of the doghouse. As Rachesky has been very careful not to take out a combative role as Icahn also on the management of Lions Gate. (Now, Crawford has been mostly supportive of the direction of media companies in which it invests.
Dr. Rachesky is co-founder and President of MHR Fund Management LLC, which is Lionsgate’s largest shareholder and holds approximately 19.8% of the shares of the Company. The company will release the rest of his board slate in the near futureSANTA MONICA, Calif., and Vancouver, BC, July 9, 2009 – Lionsgate (NYSE: LGF), the following study of the generation of leaders, today announced that the name of Dr. Mark H. Rachesky to its list of nominees for the Board to be voted at the Annual Meeting of the Society of the meeting later this year. RCM has been an important Lionsgate partner for more than five years.
“Dr. Rachesky is an investor that shares our vision for continued growth and diversification,” said Lionsgate Co-Chairman and CEO Jon Feltheimer and Vice President Michael Burns. “He brings an independent voice, strong to our board and leadership in space and wireless digital media will be of great value to our continued evolution as a next-generation study.
“I look forward to joining the Board of Directors of Lionsgate and assist management in its mission to continue building shareholder value,” said Dr. Rachesky
MHR Fund Management to support the management slate of Board nominees at the next Annual Meeting of Shareholders