Icahn Dissidents Hire Lazard
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A group led by investor activist Carl Icahn has hired Lazard to analyze strategic alternatives for Time Warner.
In a press release yesterday, Icahn Group,which includes affiliates Carl Icahn, as well as Franklin Mutual Advisers, JANA Partners, and S.A.C. Capital Advisors, said the Lazard study will focus on initiatives to streamline Time Warner’s corporate structure.
Icahn Group added Lazard will help it in the election of a slate of directors to replace a majority of the existing Time Warner directors.
Earlier this month, Mr. Icahn told Business Week he had no qualms about pushing out the chief executive of Time Warner, Richard Parsons, if the executive didn’t get on board with his plan to break up the media conglomerate.
