Bid quick for MGM assets

[khurramdar]

Bid quick for MGM assets     
Written by Chris Forrester  
Thursday, 07 January 2010 20:37
MGM’s assets will be sold on Jan 15. According to reports, about a dozen companies have signed NDAs to look at MGM’s books.

The tyre-kickers include other studios, and investment/private equity groups. Time Warner is one of the interested parties, as is Lion’s Gate Entertainment. John Malone is also on record as saying Liberty would be taking a look.

MGM is best known for its ‘James Bond’ portfolio of movies. The company is controlled by Providence Equity Partners Inc. and TPG. Comcast Corp. and Sony Corp. each own 20%, while DLJ Merchant Partners holds 7% and Quadrangle Group holds 3%. Led by Providence, the group bought MGM for $5 billion in 2005. Sony and Comcast have written off their investments.

(c) Rapid TV News 2009