UPDATE 2-Lions Gate posts narrower-than-expected loss

* Lions Gate Q4 loss 19 cents vs Street's 25-cent loss

* Q4 rev $430.6 million vs $435.4 mln analysts expected

* Icahn extends tender offer, waives tender condition

* Shares little changed after hours (Adds analysts estimates, Icahn details)

LOS ANGELES, June 1 (Reuters) - Lions Gate Entertainment Corp (LGF.N), the target of a hostile bid by billionaire Carl Icahn, posted a narrower-than-expected loss on Tuesday as strength in its TV business offset declines in its theatrical division arising from fewer movie releases.

The company reported a net loss $22.3 million, or 19 cents per share, for its fiscal fourth quarter, ended March 31, compared with a net loss of $32.4 million, or 28 cents per share, a year earlier.

Quarterly revenue fell to $430.6 million from $463.2 million a year ago.

Analysts, on average, had expected Lions Gate to lose 25 cents per share on revenue of $435.4 million, according to Thomson Reuters I/B/E/S.

For its full fiscal year, Lions Gate had adjusted earnings before interest, taxes, depreciation and amortization of $128.5 million, compared with a negative adjusted EBITDA of $122.9 million the year before.

The company is due to discuss its results on a conference call on Wednesday.

Lions Gate is home to the "Saw" movies and "Mad Men" television series.

Earlier on Tuesday, Icahn extended his hostile tender offer for Lions Gate until June 16 and waived a minimum tender condition.

He said that when his offer expires he will buy whatever shares are still tendered, after originally saying he would only buy shares if enough had been tendered to get him over 50 percent of the shares outstanding, including the nearly 19 percent he already owns.

The company responded by saying the offer has once again been rejected by shareholders, noting that less than 4 percent of stockholders have tendered their shares.

Icahn said 4.7 million shares had been validly tendered, a number roughly equal to 4 percent of the 118 million Lions Gate shares outstanding, according to Reuters Company Views.

Icahn has recently held talks with the company. He was not available for comment.

Lions Gate shares were little changed after hours. (Reporting by Sue Zeidler; Editing by Steve Orlofsky)