April 12, 2024

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MGM Holdings Inc. discovering sale of motion picture studio with enormous library of content: WSJ

2 min read

MGM Holdings Inc., the movie studio driving the “James Bond” franchise, is exploring a sale, in accordance to men and women common with the make any difference, betting that its library of written content will verify appealing to firms pursuing growth in streaming video.

Intently held MGM has tapped financial investment banks Morgan Stanley and LionTree LLC and started a official sale method, the people claimed. The organization has a market place worth of around $5.5 billion, based on privately traded shares and which include personal debt, some of the people today reported.

The studio has contemplated a sale at various details in excess of the earlier several decades, but probable suitors have beforehand balked at the cost MGM was looking for. MGM is hopeful the current method will crank out fascination beyond Hollywood’s traditional players, from international media providers, personal-fairness investors and blank-check firms, 1 of the people common with the make any difference said.

MGM Holdings Inc., the movie studio guiding the “James Bond” franchise, is exploring a sale, according to men and women acquainted with the make a difference. (Picture by AaronP/Bauer-Griffin/GC Images)

MGM’s most important shareholder, New York hedge fund Anchorage Capital Team, has arrive beneath strain in latest yrs from weak functionality and defecting purchasers, and its illiquid financial investment in MGM has turn out to be a bigger share of its hedge fund as it shrinks.

MGM’s exploration of a feasible sale comes amid a bidding war for information to fill a new wave of streaming-movie solutions. MGM’s library of titles could make it an eye-catching target, its buyers say.

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The movie studio has produced or dispersed movies and Tv set exhibits which include the “Rocky” franchise, “The Handmaid’s Tale” and “Vikings.” It has struck specials to license videos from its library, which include “Silence of the Lambs,” “Dances with Wolves,” “Rain Man” and “The Terminator.”&#13
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