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Stargate - Hollywood Reporter: MGM For Sale?

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    Stargate - Hollywood Reporter: MGM For Sale?

    From The Hollywood Reporter:

    (Please follow the link for the complete article.)

    More speculation over MGM sale

    Studio retains Goldman Sachs to solicit purchase offers

    By Carl DiOrio

    Aug 24, 2008, 03:21 PM ET

    Corrected: Aug 24, 2008, 07:57 PM ET

    Speculation circulates anew over a possible turnover in ownership at MGM.

    Two things are stressed by those in the know: The current owners won't sell for substantially less than the $5 billion they paid for the studio just a few years ago, and few suitors will be interested in bidding anywhere near that for the Lion.

    Business Week reported online Friday that the investment consortium currently controlling MGM had retained Goldman Sachs to solicit purchase offers for the studio. MGM declined comment on the report, and other parties were unavailable.

    But though the magazine put the asking price at $5.2 billion, many doubt the studio could fetch even $5 billion, let alone a premium on the consortium's 2004 investment.

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    #2
    Excellent, I just happen to have 6 billion under my pillow... now i can buy MGM and get SGA back.... what are the chances bill gates loved SGA?
    "Sadly, I understood that. Where did all those Saturday nights go?" - Rodney McKay

    Comment


      #3
      I hope it gets sold to a good company. Sony is crap all around.

      Vala,

      Comment


        #4
        I'll buy it. With the condition, SG1 and SGA are on the run again, and maybe a third show but not universe.
        sigpic

        Comment


          #5
          The mega drawing is up to 114 million...and that's still not enough. lol
          Grammar, Logic, Rhetoric.

          Comment


            #6
            Apparently it is NOT for sale

            http://www.variety.com/article/VR111...cs=1&query=mgm

            MGM: We're not for sale
            Goldman Sachs to help handle studio's debt

            By MICHAEL FLEMING, TATIANA SIEGEL

            MGM is claiming that it is not for sale, countering a detailed report in BusinessWeek magazine that its backers are trying to unload the studio.
            "Contrary to recent media reports, Metro-Goldwyn-Mayer Studios Inc. is not for sale," the studio responded in a statement. "There is no 'asking price' for the company. MGM's existing financing arrangements are sufficient to meet its needs. Goldman Sachs has been retained to explore enhancements to MGM's long-term capital structure. All of the MGM shareholders, including Providence Equity Partners, TPG, Sony Corp. of America and Comcast Corp., are pleased with the company's current momentum and are committed to the future growth of the studio."

            Sources at the studio said Goldman Sachs wasn't retained to sell the company but rather to help it handle its debt, a $3.7 billion term loan that expires in 2012. These insiders deny that a pricetag, reportedly set at $5.2 billion, was ever placed on the company.

            FULL ARTICLE AT LINK ABOVE

            Comment


              #7
              Really or are they just embarrased that Sony is trying to unload them after only 3 years.

              Vala,

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