Monday, November 1, 2010

Lions Gate nominates Rachesky to board - Sacramento Business Journal:

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Rachesky, through his LLC, is the largestr shareholder inLions Gate, with a 19.8 percent stake. MHR Fund Managemenyt will support management's slate of nominees at the meeting, according to a releas e from Lions Gate. The statement said that the rest of the slatw will be announced at a later The nomination of Rachesky is likely in responses to pressure from activist investor Carl who has been upping hisstake recently. Racheskt is a former Icahn Rumors have persisted as to whetherIcahbn . He has been critical of the studio's expenses and especially . Icahn currently holds a 16.9 percent stakew in the company.
Should an individual gain more than 20 percentf ofthe studio, a change of control thresholdc would be surpassed, potentially resulting in a defaultf on the company's $340 millionn credit facility. Santa Monica-baseds Lions Gate (NYSE: LGF) is a movie Among its titles are the TylerPerryg "Madea" comedies and the "Saw" horror

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