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Altaira
Superuser
Oct 29 2010, 1:26am
Post #1 of 11
(1058 views)
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From the Home Page: Lions Gate sues Icahn, alleging `double game'
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The MGM, Lions Gate drama continues. The latest from Bloomberg.com: Lions Gate Entertainment Corp. is suing billionaire Carl Ichan over the Metro-Goldwyn-Mayer Inc. studio deal in federal court in New York, alleging the financier was “secretly plotting” to merge the studios. In the lawsuit, Vancouver-based Lions Gate, the studio whose films include “Crash” and “Precious,” alleges that Icahn realized by June that Lions Gate was in advanced negotiations with two unidentified studios. Aware that the deals might dilute his stake in Lions Gate, Icahn “took drastic and improper action,” the studio said.
Icahn, 74, the studio’s largest shareholder, undermined any proposed transactions by making false and misleading statements, Lions Gate said. He told the investing public that such a deal would be a “financial debacle” and issued press releases vowing to challenge any transaction and sue any entity that interfered with his tender offer, the studio said.
“Icahn opposed a merger with MGM not because it was bad for Lions Gate shareholders, but because it was good -- so good, in fact, that he wanted to postpone it until he could buy as much of both companies as he could and thus extract for himself as much of the value stemming from the merger as possible,” Lions Gate said in the complaint, filed today in U.S. District Court in New York. Thanks to message board member Owain for the link. Read More...
Koru: Maori symbol representing a fern frond as it opens. The koru reaches towards the light, striving for perfection, encouraging new, positive beginnings.
"Life can't be all work and no TORn" -- jflower
"I take a moment to fervently hope that the camaradarie and just plain old fun I found at TORn will never end" -- LOTR_nutcase
TORn Calendar
(This post was edited by Altaira on Oct 29 2010, 1:29am)
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Owain
Dor-Lomin
Oct 29 2010, 3:49am
Post #2 of 11
(755 views)
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Middle Earth is New Zealand!
"Question everything, embrace the bad, and hold on to the good."
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Tim
Dor-Lomin
Oct 29 2010, 3:56am
Post #3 of 11
(735 views)
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he can fuss.
(a slight emphasis on the last word)
FEZZIK
(looking at Inigo)
... fuss ... fuss ...
(Suddenly, he's got it again, emphasis on the last word.)
I think he likes to scream at us.
INIGO
Probably he means no harm.
FEZZIK
He's really very short on charm.
INIGO
(proudly)
Oh, you've a great gift for rhyme.
FEZZIK
Yes, some of the time.
King Arthur: Who are you who can summon fire without flint or tinder?
Tim: There are some who call me... Tim?
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Owain
Dor-Lomin
Oct 29 2010, 3:58am
Post #4 of 11
(719 views)
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Middle Earth is New Zealand!
"Question everything, embrace the bad, and hold on to the good."
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Ruijor
Nargothrond
Oct 29 2010, 5:48am
Post #5 of 11
(736 views)
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...you gotta love the word lawsuit! It´s so fashionable isn´t it? 
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Kangi Ska
Gondolin
Oct 29 2010, 5:57am
Post #6 of 11
(699 views)
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I like birthday suit better.//
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Kangi Ska Resident Trickster
New Zealand is Middle-earth & today life is good.
At night you can not tell if crows are black or white.
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Ruijor
Nargothrond
Oct 29 2010, 6:04am
Post #7 of 11
(685 views)
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Personally nothing beats a space suit in coolness...
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B.R.n
Lindon
Oct 29 2010, 11:49am
Post #8 of 11
(638 views)
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This smells like another obstacle and a further delay.With all these signs, it's quite clear that "The Hobbit" isn't meant to be shot neither in NZ nor anywhere else.Just pull the plug and end the misery please.Thx
(This post was edited by B.R.n on Oct 29 2010, 11:54am)
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Flagg
Dor-Lomin
Oct 29 2010, 12:27pm
Post #9 of 11
(635 views)
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Elladan
Ossiriand
Oct 29 2010, 12:31pm
Post #10 of 11
(645 views)
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The greenlight is on, wouldnt have happened with out the gaurantee of MGMs backing, so what ever happens they have to fund the film, chances are if they dont WB get everything and MGM gets a nice fat law suit either way the hobbit will go ahead.
I just feel sorry for everyone out there involved in and anticipating Bond, I had the distinct impression that the 2 films were intricately tied, if one got out so would the other but it doesnt look like thats the case. Just glad MGM threw thier bid in with the Hobbit.
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Earl
Forum Admin
/ Moderator
Oct 29 2010, 12:36pm
Post #11 of 11
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I'd stay away from Lionsgate if I were an MGM creditor...
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... as if MGM doesn't have enough of its own problems! I don't see its creditors wanting to get sucked up into the whole fiasco that is Lionsgate. MGM is probably looking for some stability right now, and rightly so.
Anyway, today's the vote, and the silence makes me believe they're going to stick with the Spyglass deal 
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