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Suitors Submitting New Bids To MGM

  • Bloomberg, Sunday, February 28, 2010 10:36 PM
Metro-Goldwyn-Mayer Inc. is asking suitors to submit new bids for the studio by mid-March, about two weeks before its respite from interest payments expires. Billionaire Len Blavatnik's Access Industries, Time Warner Inc., Lions Gate Entertainment Corp. and Liberty Media Corp. are among the potential buyers examining MGM books.


MGM's big draw is its assets, which potential buyers are trying to determine. The sale is the result of failing to make payments on $3.7 billion in debt. The MGM assets include a 4,100-movie library, future "Bond" movies and rights to co-distribute films based on J.R.R. Tolkien's "The Hobbit."

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