Lions Gate Entertainment ( LGF ) is girding for battle. The Hollywood studio that made the film and TV series is squarely in the sights of shareholder activist and onetime raider Carl Icahn. To defend itself against a widely expected tussle for control with Icahn, Lions Gate has hired Joele Frank, Wilkinson Brimmer Katcher, a public relations firm that in the past has helped Motorola ( MOT ) contend with Icahn's activism. Tension between Lions Gate and Icahn escalated Mar. 11 when the studio broke off talks aimed at handing board seats to the billionaire, who owns 14.5% of the company's shares and now wants to buy up as much as $325 million in Lions Gate debt that can be converted into company shares.