October
23 Does Carl Icahan want Yahoo to buy Lionsgate?

Could Carl Icahan, boardroom gadfly and otherwise sly devil, have designs on Lionsgate? Namely, having Yahoo buy Lionsgate? Richard Dorfman, managing director with financial advisory and investment firm Richard Alan, says that's what lies behind Yahoo board member Icahan's Oct. 20 decision to bump up his Lionsgate holdings to 9.17%. "If Yahoo buys a traditional media company like Lionsgate, all of a sudden that takes (Yahoo) to a whole new level," he tells Sophia Banay. "It basically would turn (Yahoo) into a movie distribution company." Lionsgate has one of the last great film libraries, with more than 6,000 titles; Yahoo has the potential to create online distribution. And Yahoo, of course, also needs a makeover and/or miracle; founder Jerry Yang sent a memo to his staff this week, letting them know their number will become 10% fewer before Christmas. [Portfolio.com]