Lionsgate shareholder vote goes smoothly

Elects 12 board members at annual meeting

TORONTO -- The nasty proxy fight threatened by activist shareholder Carl Icahn never materialized Tuesday as Lionsgate elected its 12-member slate of board members during an annual shareholders meeting in Toronto.

Lionsgate executives privately breathed a sigh of relief as the investor gathering well away from their Santa Monica executive suite or Vancouver headquarters passed off "uneventfully," according to one insider.

"We thank our shareholders for their continued support and are pleased that they have elected all of our director nominees," Lionsgate CEO Jon Feltheimer and vice chairman Michael Burns said after the meeting.

The execs told investors they remain committed to boosting shareholder value as the movie studio shifts into TV production with such hits as Showtime's "Weeds" and AMC's "Mad Men."

Icahn earlier failed to persuade Lionsgate to appoint his allies to its 12-member board and did not offer an alternative slate of directors Tuesday.

"With the leadership and expertise of a strong and independent board of directors, we look forward to continuing to execute our growth strategy for the benefit of all our shareholders," the company said.
comments powered by Disqus