Looks like the Carl Icahn era is now officially over at Yahoo (NSDQ: YHOO). The activist investor has once again slashed his stake in the company and now owns only four million shares of Yahoo’s stock, or 0.28 percent of the company, according to an SEC filing, first noted by Marketwatch. That’s down from the 75.6 million shares Icahn owned in November 2008, several months after getting himself and two associates onto Yahoo’s board in order to pressure the company to sell itself to Microsoft.
Icahn began to unload his Yahoo shares last August and quit the board in October, saying the company no longer needed an “activist” as a board member. Since then, one of Icahn’s two appointees, former Nextel CEO John Chapple, has followed his lead and resigned.
Icahn has been selling all of his Yahoo stock at a loss, since he paid about $25 on average for the shares. Yahoo stock is now trading at just over $16. Meanwhile, Icahn’s interests have moved on; he’s in the midst of trying to take over Lions Gate Entertainment. The latest is that Lions Gate has now agreed to start talks with him.

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