– 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
Take-Two Interactive.


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(Seeking Alpha)


  1. And the best part is this isn’t an April Fool’s joke! Rock on, Carl! I hope others follow your good example.

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