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Fox in the Henhouse Alert: Carl Icahn Has Acquired 10% of Netflix

Oct 31, 2012  •  Post A Comment

"Billionaire Carl Icahn acquired almost 10 percent of Netflix, operator of the largest online video streaming service, and is considering ways to maximize value," reports Bloomberg.

The story continues, "The shares rose the most since January. Icahn said in a filing today he accumulated 5.54 million shares of…Netflix, including options, and that he may seek talks. The company may have ‘strategic value’ for larger concerns, he said. Joris Evers, a Netflix spokesman, said the company had no immediate comment."

"Icahn, who buys stakes in companies he considers to be underperforming and then pushes for change, has made several large bets on media and entertainment stocks," the story notes.

The article adds, " ‘I believe that there is going to be great consolidation between Netflix and, everybody’s read about it, Amazon or Microsoft or Verizon or Google, there are so many possible combinations,’ Icahn said on Bloomberg Television.

"Netflix rose 14 percent to $79.24 at the close in New York to mark the biggest gain since January. The stock was unchanged for the year before today."

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