NEW YORK, NY, Aug. 10 /CNW Telbec/ - Steinberg Asset Management, LLC
("Steinberg") announced today that its control over common shares of Lions
Gate Entertainment Corp. ("Lions Gate") has been reduced by over 2% since it
filed an early warning report with the Canadian securities regulators on
October 9, 2008.
On October 9, 2008, Steinberg filed an early warning report with the
Canadian securities regulatory authorities confirming its control at that time
over 17,281,484 common shares of Lions Gate, representing 14.72% of the common
shares of Lions Gate reported as being issued and outstanding at such time.
Due to dispositions of Lions Gate's common shares effected by Steinberg
through the facilities of the New York Stock Exchange and/or through other
venues as may be utilized from time to time by electronic trading systems or
brokers, Steinberg has reduced its position in Lions Gate to 14,767,415 common
shares, representing control over 12.62% of the 117,032,091 common shares
referred to as being issued and outstanding as of May 22, 2009 (per Lions
Gate's most recent annual report filed on Form 10-K).
Steinberg is an independent investment advisory firm. Steinberg purchases
and sells common shares of Lions Gate on behalf of various separately managed
accounts over which it exercises discretionary authority for passive
investment purposes and not with a view to influence management or the
direction of the company. On behalf of its managed accounts, Steinberg may, as
investment conditions warrant, and as managed accounts either add or withdraw
funds or securities from accounts under Steinberg's management, acquire
further securities or dispose of its holdings of securities of Lions Gate in
the ordinary course of its investment management activities.
For further information:
For further information: Mr. Steven Feld, (212) 980-0080