Can you also test the latest upstream 4.4 kernel?  This will tell us if
the fix in mainline was already sent to stable or not.  The 4.4.15
kernel can be downloaded from:

http://kernel.ubuntu.com/~kernel-ppa/mainline/v4.4.15

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https://bugs.launchpad.net/bugs/1593261

Title:
  Using "splash" Linux boot option causes IPMI console view to blank

Status in linux package in Ubuntu:
  Confirmed

Bug description:
  I'm using a set of blade servers with SuperMicro BIOS and IPMI console
  viewing capabilities.  I use the Ubuntu netboot options with a PXE
  server to install.

  I've installed Ubuntu 12.04 and 14.04 on these systems, and everything
  works great.

  However, when I install Ubuntu 16.04 (and this is true both if I
  upgrade from Ubuntu 14.04 with do-release-upgrade AND when I install a
  fresh copy directly via the Ubuntu 16.04 netboot image via PXE), then
  the install works but when I reboot the IPMI console is completely
  blank: no cursor, no text, no typing shows anything.

  I can still SSH to the system (except of course the default netboot
  install doesn't include sshd for some bizarre reason so I had to play
  some tricks and rerun the install multiple times :-/).

  After a lot of experimentation I discovered that if I edit the
  /etc/default/grub file and remove the "splash" setting from
  GRUB_CMDLINE_LINUX_DEFAULT variable and re-run update-grub, then
  things worked fine and I was able to boot properly without losing
  access to the IPMI console.

  One more note: this is definitely a kernel issue because when I choose
  the older 14.04 kernel (3.13 or similar) from the boot menu on the
  system I upgraded from 14.04 to 16.04, with the "splash" setting still
  in the grub config and no other changes (so userspace is still all
  16.04), I had no problems with the IPMI console viewer.

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