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After obtaining Jon Feltheimer's shares, Link's stake in Lionsgate Films grew to 55.5%, surpassing half and thus securing control of Lionsgate Films.
In order to gain full control over Lionsgate, he extended a takeover offer to the second-ranked shareholder, John Malone.
The other party quoted $280 million US Dollars.
Link refused, only agreeing to purchase his 32.2% stake based on the price when Lionsgate Films had a market value of $630 million half a month earlier, around $200 million US Dollars.
John Malone declined.
Link didn't mind; he notified the entire company to convene a board meeting, announcing the acquisition of Palm Beach Films for $150 million US Dollars.
This decision was immediately opposed by the second-largest shareholder, John Malone.
Though Palm Beach Films had produced a blockbuster last year and had two movies ready for release, no matter how you calculated it, its market value did not reach $150 million US Dollars—it was at most $50 million.
