Lionsgate chairman Mark Rachesky has taken advantage of a weak company stock price to continue adding to his ownership stake in the Hollywood studio led by CEO Jon Feltheimer.
An SEC filing on Tuesday disclosed Rachesky — the biggest Lionsgate shareholder — and his investment vehicle MHR Fund Management acquired in all 789,320 class A voting shares at between $4.18 and $5.25 each from March 13-17.
The open-market purchases got Rachesky from a 21.9 percent ownership stake in Lionsgate to a 22.8 percent holding as of Tuesday.
The regulatory filing adds Rachesky did not pick up class A voting shares held by Discovery, Liberty Global or billionaire investor John Malone or other entities affiliated with Malone.
Read more on hollywoodreporter.com
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