After Blockbuster's failed attempt to acquire Hollywood Entertainment Corp., financier Carl Icahn publicly expressed his displeasure with Blockbuster's operations. Icahn blames the failed deal on Blockbuster's CEO, John Antioco, whom he accuses of frivolously spending the stockholders' funds on high salaries and "spending sprees." Icahn threatened to battle for control of the company in order to bring discipline to the current board and give greater dividends to shareholders.
Posted by franchiselawblog at April 8, 2005 10:29 AM