Will Lions Gate Entertainment’s Top Institutional Shareholders Support This Management Change?
Lions Gate Entertainment Corp. (NYSE:LGF) has named Brian Goldsmith co-COO of the company. Goldsmith joins co-COO Steve Beeks, and they will report to Lionsgate CEO Jon Feltheimer regarding corporate management issues. The two will also keep working closely with Vice Chairman Michael Burns and General Counsel Wayne Levin on M&A activities and initiatives concerning Lions Gate’s capital structure, which includes significant corporate and project financings. Goldsmith was a main player in the arrangement of Lionsgate’s recently closed $800 million revolving credit facility along with the company’s October 2011 secondary equity offering and its two high yield debt offerings. He was instrumental in the company’s January 2012 acquisition of Summit Entertainment, which is the August 2011 sale of Canadian distributor Maple Pictures to Alliance Films and the February 2009 acquisition of TV Guide Network and TVGuide.com. Additonally, he was also a key player in overseeing Lionsgate’s partnerships with Viacom and MGM in the Epix channel, Sony ,and Comcast in the FEARnet Channel and the launch of Celestial Tiger Entertainment in Asia with partners Saban Capital Group and Astro’s Celestial Pictures. Goldsmith was EVP of Corporate Development and Strategy since September 2008, and he was responsible for leading the company’s acquisition and corporate development activities.
Will Lions Gate’s shareholders decrease their holdings? These firms reported owning a total of 59,000 shares on 09/30/2012. The shares closed at $15.27 on 09/30/2012.
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Here are the ten largest positions in Lions Gate Entertainment Corp. at the end of September 30th, 2012.
Gerry Farber LLC held 59,000 shares on 09/30/2012 worth $900,930. This brought the portfolio total to 0.78%.
Mhr Fund Management LLC held 51,261,899 shares on 06/30/2012 worth $755,600,380. This brought the portfolio total to 33.49%.
Capital Research Global Investors held 16,475,000 shares on 06/30/2012 worth $242,841,496. This brought the portfolio total to 0.11%.
Lazard Asset Management LLC held 12,073,000 shares on 06/30/2012 worth $18,095,000. This brought the portfolio total to 0.04%.
Wolverine Asset Management LLC held 11,619,000 shares on 06/30/2012 worth $21,562,000. This brought the portfolio total to 0.5%.
Highbridge Capital Management LLC held 10,332,000 shares on 06/30/2012 worth $19,075,000. This brought the portfolio total to 0.26%.
D. E. Shaw & Co. Inc. held 9,440,000 shares on 06/30/2012 worth $9,763,000. This brought the portfolio total to 0.02%.
Basso Capital Management LP held 9,408,000 shares on 06/30/2012 worth $17,423,000. This brought the portfolio total to 3.17%.
Whitebox Advisors LLC held 7,091,000 shares on 06/30/2012 worth $7,232,000. This brought the portfolio total to 0.23%.
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