COMPANY NEWS; ICAHN GETS SOME SUPPORT IN BLOCKBUSTER FIGHT
Published: May 4,
2005, Wednesday
The investor Carl C. Icahn received partial backing from
Institutional Shareholder Services for his attempt to appoint directors to the
board of Blockbuster. Shareholder Services said that Blockbuster investors
should appoint Mr. Icahn's nominees, Strauss Zelnick and Edward Bleier, to the
board at next week's annual meeting, but vote against Mr. Icahn. Mr. Icahn,
Blockbuster's largest shareholder, advocates selling the company to a private
equity firm, a strategy opposed by its chief executive, John Antioco. Mr. Icahn
should be denied a seat on the board because he lacks media experience and has
attacked Mr. Antioco, who has led the company since 1997, Shareholder Services
said. Mr. Antioco has called the proxy vote a referendum on Blockbuster's
strategy, has urged investors not to back Mr. Icahn's candidates and has
threatened to quit if not re-elected.
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