Fusion Corporate Partners

Premiere Publishing Group has set a definitive closing date of July 15th, 2010 for the closing of its acquisition of BOLD TV Corporation. Premiere will close the transaction in a newly formed subsidiary known as BOLD Entertainment Group, Inc.

Premiere’s president, Omar Barrientos, stated, “We are delighted to have a definitive date in which to close our aquisition of BOLD TV Corporation, Inc. and we look forward to a long and very fruitful relationship with them.

“This will be the beginning of a campaign to aggressively seek out acquisitions that will substantially increase shareholder value while minimizing dilution thru the use of our subsidiary financing model.

“We are also in the process of negotiating the restructuring of our balance sheet and we have the cooperation of the majority of our creditors. We expect to have a formal plan presented to all of the creditors in the next 30 days for their approval.

“We continue to stay current with our SOX compliance requirements and will have more details as it relates to our improving financial condition in the coming quarterly reports.

“These steps we are taking now will mark a new era for our shareholders and as we move forward with our plan for acquiring businesses. We are also speaking with several key principals with substantial backgrounds in Mergers and Acquisitions and finance to further enhance our deal team and join our Board of Directors. We expect to make these announcements in the very near future.

“We are in the process of a complete transition to utilize the talents of our constituents to create a public company that is specific to acquiring profitable businesses to increase shareholder value.”

Location: USA, Totowa, NJ

Ref: F231109-518

Carl C. Icahn has announced that the purchase price in connection with his existing hostile offer to buy all of the outstanding common shares of Lions Gate Entertainment Corp. is being increased from $6.00 to $7.00 per share.

In addition, he has issued a letter to shareholders criticising the board for its actions to date in defending against the bid. He says “We do not feel comfortable that existing management is the right team to guide Lions Gate through this difficult period”: and says that their “profligate spending has taken its toll on Lions Gate’s share price”. He also defends his own investment track record saying “in light of Lions Gate’s selective attempt to distort facts in an effort to discredit me, I thought it important to provide a few facts of my own”.

Mr Icahn has built a stake of 20 per cent in Lions Gate Entertainment Corp. The company has a major presence in the production and distribution of motion pictures (“My Bloody Valentine”, “Saw V”, “Rambo” and “The Bank Job”), television programming (“Mad Men”, “Weeds” and “Crash”), home entertainment, family entertainment, video-on-demand and digitally delivered content. Lionsgate own a library of approximately 12,000 motion picture titles and television episodes.

Read the full text of the letter here

Lionsgate Management Team

• Jon Feltheimer, Co-Chairman and Chief Executive Officer
• Michael Burns, Vice Chairman
• Steve Beeks, President and Co-Chief Operating Officer
• Joe Drake, President, Motion Picture Group and Co-Chief Operating Officer
• Jim Keegan, Chief Financial Officer
• Wayne Levin, General Counsel and Executive Vice President of Corporate Operations

Carl C. Icahn

• Chairman of the Board, Icahn Enterprises, LP.
• Chairman of the Board,  American Railcar Industries, Inc. 
• Director,  Cadus Corporation

Profiles of Carl C. Icahn: Forbes,  Wikipedia, Britannica Online Encyclopedia