We’re hearing that Chris McGurk – late of Overture – might become part of Carl Icahn’s slate in the activist shareholder’s bid to place his people on the Lionsgate board of directors.
The entertainment company will hold the vote Dec. 14 at its annual meeting.
Why McGurk (pictured left, at left with Lionsgate CEO Jon Feltheimer)?
The movie executive has been without a steady gig since his exit from Overture in July, and before that had been seeking to raise a fund to produce his own movies.
In the meantime, he might help the takeover king make the life of Jon Feltheimer more difficult. The move might also have some tie to Icahn’s role at MGM, where McGurk once ran the show.
Icahn is widely expected to float his own slate of directors in the hopes of taking control of the Lionsgate board. So far he has not announced his slate, but it would logically include himself and his son Brett.
While Icahn is the largest shareholder in the company, owning 33.5 percent of the stock, he still has no seats on the board even as he continues his moves to assert control over the company.
Icahn is also seeking to reverse a court ruling over a move that diluted his holdings from 38% to 33.5%.
Meanwhile, Lionsgate has already mailed out its company’s slate and shareholders can vote anytime before December 14.
The company announced its slate on Friday in which Frank Justra, founder of Lionsgate, replaces Canadian director Brian Tobin.
The other 11 incumbents remain the same.
McGurk did not return calls seeking comment, and Lionsgate had no comment.