– Activist investor Carl Icahn has sold 75% of his holdings in video rental
store chain Blockbuster (NYSE: BBI), Seeking Alpha reports.
Icahn sold some 14 million of
his 20 million shares in Blockbuster last week, reducing his stake in the
company from 10% to 2.5%.
The price Icahn received for his shares was just
$0.24-$0.25 per share.
The sale comes after Blockbuster announced that it may file
for Ch. 11 bankruptcy protections.
Icahn has recently been embroiled in a
battle with the management of film studio Lionsgate for control of the company,
and has also been buying shares to increase his stake in video game publisher