Keeping aside their differences, Lions Gate Entertainment and Carl Ichan, have decided to work together. Carl is the largest shareholder is the entertainment company and the two parties have joined hands to be able to look into certain opportunities starting July 9 and ending on July 19. As per the regulatory filing, Lions Gate has said that because of the agreement, Lions will refrain itself from issuing shares to the excess of 5 per cent of its share capital.

This will, however, be in the normal course of business and will be considered in case when a joint acquisition takes place with Icahn. No further details and/or elaborations were made by Lions. Carl, the billionaire investor has 37.9 per cent stake in Lions gate. He ha started a hostile takeover plans to takeover the company and also wanted to remove the management.

He said that Lions Gate was making unnecessary and inadvisable purchases. There was also news that Lions Gate was in talks with Metro-Goldwyn Mayer for possible merger, but Carl was against it. A lot of mergers and acquisitions are taking place in the media industry at present.