Mark Rachesky expressed his support of the current Lionsgate management in a regulatory filing Wednesday, the New York Post reports. Rachesky, Carl Icahn’s former associate, owns almost 20% of Lionsgate’s stock after both men increased their stakes in the company in what was thought to be an effort to stage a takeover, the magazine says. However, with Rachesky’s support of the current management, it might become more difficult for Icahn to get his nominees elected to the board, the Post adds.
—Sergio Ibarra