Carl Icahn’s former CIO, Mark Rachesky, who had been buying shares of Lionsgate stock to keep up with his ex-boss, now owns 19 per cent of the independent studio.
That’s 4% more than Icahn, whose stake has stayed at just under 15% since last week. Rachesky, meanwhile, bought 700,000 more shares yesterday.
So, between the two of them, they’ve got a roughly 34 per cent stake in Lionsgate. That’s enough for Lionsgate’s execs to be worried, if they’re not already.
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