Matt Bodie at PrawfsBlawg has a nice postscript on Icahnâ€™s settlement with Time Warner (click here). Frank Biondi will get a nice postscript too–$6 million. Biondi agreed late last month to serve as Time Warnerâ€™s CEO in the event Icahn was successful in ousting the board. Even though Icahn was unsuccessful, Biondi gets $6 million for the few weeks he helped Icahn. As Biondi put it: “It beats minimum wage, that’s for sure.” See this article for more details.
Cite this Article
Bill Sjostrom, $6 Million for Biondi, Truth on the Market (February 20, 2006), https://truthonthemarket.com/2006/02/20/6-million-for-biondi/