Icahn Takes 10% Netflix Stake, Stoking Sale Speculation

Law360, New York (November 1, 2012, 2:57 PM EDT) -- Activist investor Carl Icahn paid $168.9 million to beef up his stake in video-streaming website Netflix Inc. to roughly 10 percent Wednesday, sending the company’s stock skyward in a move widely thought to signal an impending sale.

In a filing with the U.S. Securities and Exchange Commission, Icahn — the billionaire known for cramming himself into boardrooms to force major corporate shakeups — indicated that he believes folding the company into a bigger operation would spur growth.

“Netflix may hold significant strategic value for a variety...
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