The globe's sixty-seventh richest man, former corporate raider Carl Icahn (70), now better known as an interventionist shareholder, is reportedly planning a move to break-up media titan Time Warner.
It was revealed Tuesday by financial TV channel CNBC that Icahn, reputed wealth $5.8 billion (€4.7bn; £3.25bn), had approached other TW investors - among them the founder of CNN and former TW vice-chairman Ted Turner - to form an activist pressure group to press for the company's breakup.
Icahn, fresh from his triumphal wresting of control of Blockbuster Video, owns five million shares in TW - equivalent to 0.11% of the company. Rumours of his latest interest in the media giant hiked its shares by 3.17% to close Tuesday at $18.54.
Lips were tightly zipped all round. Icahn was not available for comment and Ted Turner was elsewhere. Time Warner confined itself to a pious statement that its management was "committed to creating value for shareholders".
Regulatory filings with the SEC reveal that the largest stockholder in Time Warner is investment fund Capital Research Management with 283m shares, or 6.15% of the company's stock.
It is not known if Icahn has approached CRM - but he'll certainly need an ally of that stature if his breakup bid is to have the ghost of a chance of success.
Data sourced from Financial Times Online; additional content by WARC staff