Investor Carl Icahn has acquired about a 10% stake in Netflix, according to Securities and Exchange Commission filings.
Icahn is a former corporate raider of the 1980s, who has lately adopted a shareholder activist approach to turning companies around. He played the latter role at Yahoo during the aborted sale to Microsoft. He currently serves on the board of directors of Blockbuster.
Netflix has become vulnerable to challenges to its leadership and direction since a poorly handled repricing effort last fall caused users to flee and Its stock prices to sag. The company’s share price is up in after-hours trading since the investment was announced.
SocialTimes was unable to reach Icahn or Netflix for comment.