And the march to war continues. Who is this shareholder activist who regards media assets as nothing more than mere a commodity from which he hopes to realize outsized returns? Moreover, as a minority shareholder (along with his allies, he has but 2.9% of the common stock), what kind of aplomb must he have in order to (subtlety?) threaten the management of the largest media conglomerate in the word?
This article gives more information on the march to war within the Icahn camp as they seek to dramatically alter Time Warner’s current plans for increasing shareholder value. Specifically, this article focuses on Robert Clark who is a director of both Time Warner and Lazard, the investment bank that is advising Icahn and his team of investors.
Required reading for anyone following the current battle between financier Carl Icahn and Time Warner. This article focuses on Icahn’s growing arsenal of financial weapons, namely a very prominent and prestigious investment bank, Lazard which is now his allay in getting Time Warner to change its ways to dramatically increase its share price. The problem, of course, is that corporate raiders such as Icahn want to turn a quick profit, whereas the management might be more interested in pursuing a long term strategy, which is a leitmotif of this entire saga.