Lions Gate largest holder may get board seat-paper

June 9 (Reuters) - Lions Gate Entertainment Corp (LGF.N), which has been criticised by billionaire investor Carl Icahn for overspending, is likely to nominate its largest shareholder to a board seat that could be left vacant, the Los Angeles Times reported.

People close to the situation told the paper that Lions Gate plans to nominate Mark Rachesky to fill the seat occupied by Mark Amin, who recently sold three-quarters of his stake in the company for personal reasons.

Rachesky is the company's biggest shareholder with a 20 percent stake.

Icahn, who was also seeking board seats in the company, raised his stake last week to 15.6 percent from 14.5 percent over the last month, the paper said.

In an interview with the paper, Amin said he had not decided if he would seek re-election to the board.

Rachesky said in a regulatory filing in March that he might seek a board seat, the paper said.

Rachesky is a former employee of Icahn, but unlike Icahn who has been critical of the company, has been supportive to Lions Gate, the paper said.

Reuters could not immediately reach Lions Gate for comment outside regular business hours.

(Reporting by Esha Dey in Bangalore; Editing by Erica Billingham)