Carl Icahn Now Owns Almost Ten Percent of Netflix – Pressures Company to Change or Sell

Posted Wed Nov 21, 2012 at 09:00 AM PST by Dick Ward

The investor has put another $154 million into the company in hopes of inspiring some changes.

Carl Icahn may not be a household name but in the business world he's very famous indeed. Icahn is well known for investing heavily in a business in order to elicit changes within the company, or simply buying them outright. His latest target – Netflix.

Icahn now owns 9.98% of Netflix, which is as much as one person can own before a poison pill plan goes into effect, raising the stock price so high that no one will be able to purchase more. His investment should allow him to pressure the company further into either making some changes or selling to one of several companies that would surely enjoy having Netflix in their portfolio.

Source: Home Media Magazine

See what people are saying about this story in our forums area, or check out other recent discussions.

Tags: Netflix, Carl Icahn, Industry Trends (all tags)