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Entertainment & Sports

Sep. 1, 2011

Investor gives up bid to control Lions Gate

After years of mounting tension, billionaire Carl Icahn agreed Tuesday to give up his stake in Lions Gate Entertainment Corp.


By Erica E. Phillips


Daily Journal Staff Writer


LOS ANGELES - The chase has ended for billionaire investor Carl Icahn.


After years of mounting tension as Icahn increased his stake in Lions Gate Entertainment Corp. and repeatedly sought a merger with Metro-Goldwyn-Mayer Inc., he agreed Tuesday to give up his more than 33 percent stake in the independent studio.


In exchange, Lions Gate agreed to drop a case it filed against Icahn last ...

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