News Corp, Time Warner eye MGM Studio
News Corp, Time Warner Inc, and Qualia Capital LLC are interested in buying the Metro-Goldwyn-Mayer Inc film studio, owner of the ‘James Bond’ franchise, according to people with knowledge of the situation.
The companies haven’t examined the studio’s finances and their level of interest would depend on price, said the people, who declined to be identified because the talks are private. Burdened by about $4-billion in debt, Los Angeles-based MGM said last week it is weighing options, including a possible sale of the company. Creditors are hoping to get at least $2 billion, from a single buyer or by selling the assets separately, the people said. Matthew Harrigan, an analyst at Wunderlich Securities, says MGM is worth $1.6 billion to $1.7 billion.
