Carl Icahn’s bid to gain control of Lionsgate gained new momentum yesterday.
Billionaire Mark Cuban said he would tender his holding in the movie studio to Icahn for $7 a share. The intent to sell gives the activist investor new fuel for his bid to control the Tinseltown studio behind such hits as “Precious” and “Mad Men.”
Cuban told The Post, “I think it’s the right decision for me to make with my shares.”
In an interview with CNBC yesterday, Cuban said: “I’m here to tell you I really think I’m going to tender and I will have a conversation with them and most likely tender my shares.”
Icahn holds an 18.7 percent stake in the studio and roughly 4 percent of Lionsgate shareholders have tendered their shares to him since he began his quest for the film studio.
Cuban’s 5.4 percent stake brings Icahn to 28 percent, meaning the activist investor needs only 5 percent more of Lionsgate shares to trigger a change of control.
Icahn has long stressed his unhappiness with Lionsgate — run by CEO Jon Feltheimer — and is upset its latest movie, “Killers,” starring Ashton Kutcher and Katherine Heigl has not done better.
Icahn told The Post, “These guys have done nothing but squander $70 million producing ‘Killers.’ ” The company seems to be ignoring the fact that it might be going into default.” Icahn also expressed surprise that Lionsgate had not reached out to him to discuss the situation.
A Lionsgate spokesman told The Post: “We believe that if Mark Cuban tenders to Icahn for $7 a share he is leaving money on the table.” Analysts’ consensus target price on Lionsgate is $8.85.