Lions Gate Entertainment Incorporation, the leading independent filmed entertainment studio is requesting its investors to restrain themselves from getting hooked by the hostile move of Carl Icahn and thereby has promised to impede the billionaire's bid. Mr. Icahn's, one of the shareholders of Lions Gate has bid to increase his share from 18.9 per cent of the company's stock to 29.9 per cent.

Lion Gate has condemned of the move of Mr. Icahn and his son, Brett who propose for the increased share in order to get their seats booked in the Management's board. Lately , Mr. Icahn has disapproved of the step taken by Lions Gate's to make a purchase of TV Guide Network, he said that he wants his investment to be secured after this move and decided to get a better share in the entertainment studios. Lions Gate cautions that Mr. Icahn does not have favourable experience in the entertainment business.

The studios have decided on a shareholder rights plan which incorporates the issue of right shares. Mr. Burns, Lions Gate Vice-Chairman said, "We adopted a shareholders rights plan protecting all shareholders because we think basically this is coercive and also an unfair attempt to takeover Lions Gate without affording all of the shareholders fair value for their shares".