Carl Icahn's close to 10 percent ownership of Netflix was disclosed last week and I said the stock was in play. The poison pill is the company's answer but believe me based on my experience Carl Icahn will quite possibly ask for a proxy of shareholders. They may laugh at him but board members and officers may try to back channel to Icahn's people and pledge allegiance. I've been in the position to rattle management and no matter what, Carl Icahn will accomplish with Netflix what he didn't do with Blockbuster--make a profit.
When Carl Icahn gets in the picture watch out, drink plenty of water and keep your jock strap and cup on.
Here's a great story by Joe Flint on the facts:
http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-netflix-poison-pill-carl-icahn-20121105,0,7300294.story
posted by Brad Richdale
