MGM, movie studio behind 'James Bond' franchise, explores sale

MGM, the movie studio known for the James Bond franchise, is exploring a sale, according to a new report. Citing anonymous sources, the ...

MGM, the movie studio known for the James Bond franchise, is exploring a sale, according to a new report.

Citing anonymous sources, the Wall Street Journal said late Monday that MGM has tapped investment banks Morgan Stanley and LionTree and begun a formal sale process.

The company has a market value of around $5.5 billion based on privately traded shares and including debt, sources told the publication.

The studio is hoping its content library, which includes Oscar-winning flicks like “The Silence of the Lambs,” “Dances with Wolves” and “Rain Man,” as well as shows like “The Handmaid’s Tale” and “Vikings,” will be attractive to companies looking to grow their streaming offerings.

MGM has tinkered with a sale in the past only to see potential suitors balk at the asking price. This time the studio is hoping the sales process will generate interest from players outside the traditional Hollywood realm, including international media companies, private equity investors and blank-check companies, according to the Journal.

MGM’s biggest shareholder, New York hedge fund Anchorage Capital Group, has been under pressure in recent years from weak performance and defecting clients, and its illiquid investment in MGM has become a “larger percentage of its hedge fund as it shrinks,” the report said.

According to entertainment trade publication Deadline, talk of a potential sale emerged earlier this year when MGM floated the idea of licensing its upcoming blockbuster 007 film “No Time to Die” for one year for $600 million to a streaming service. Ultimately talk of a sale died and Deadline predicted it could happen again.

“No Time to Die” was initially slated to debut in April 2020 and then was pushed to April 2021 due to the pandemic. Sources believe the movie could get moved again due to sluggish movie attendance worldwide.

Although many in Tinseltown have said for some time that MGM will be sold, sources believe that talks won’t get serious until the fate of the latest James Bond flick becomes clear.

Source link



Africa,742,Americas,3951,Art & Culture,14302,Arts,6347,Arts & Design,1538,Asia,3129,Automobile,425,Baseball,517,Basketball,413,Books,3739,Business,5182,Celebrity,2605,Cricket,620,Crime,133,Cryptocurrency,1404,Dance,600,Defense,811,Diplomatic Relations,2467,Economy,1023,Editorial,260,Education,1129,Elections,301,Energy & Environment,3001,Entertainment,22181,Environment,3483,Europe,4077,Faith & Religion,217,Family & Life,788,Fashion & Style,3102,Finance,19112,Food & Drink,3592,Football,1039,Games,85,Gossip,10259,Health & Fitness,3933,Health Care,884,Hockey,192,Home & Garden,896,Humour,965,Latin America,49,Lifestyle,16349,Media,505,Middle East,1413,Movies,1594,Music,2501,Opinion,2756,Other,11345,Other Sports,4883,Political News,11265,Political Protests,2296,Politics,17368,Real Estate,1702,Relationship,64,Retail,3084,Science,2488,Science & Tech,9544,Soccer,172,Space & Cosmos,289,Sports,11535,Technology,3284,Tennis,516,Theater,1575,Transportation,289,Travel,2454,TV,3544,US Sports,1450,Video News,3531,War & Conflict,1041,Weird News,967,World,15678,
Newsrust: MGM, movie studio behind 'James Bond' franchise, explores sale
MGM, movie studio behind 'James Bond' franchise, explores sale
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content