Lionsgate: defensive move in board game

July 09, 2009 Lionsgate Entertainment hopes to add its biggest shareholder and longtime management ally to its board in a move that would help thwart a feared proxy fight by Carl Icahn. Lionsgate hasn't said when shareholders will meet to vote for directors, but its annual meetings typically are held in September. Rachesky said in March that he eventually intended either to join the Lionsgate board or have a representative from his investment company, MHR Fund Management, stand for election.

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