R-ADAG among over 10 firms interested in MGM: Report
Hollywood's iconic movie studio Metro-Goldwyn-Mayer has received interest for a possible takeover from more than ten suitors, including Anil Ambani-led Reliance ADA Group, says a media report.
By PTI |
NEW YORK: Hollywood's iconic movie studio Metro-Goldwyn-Mayer has received interest for a possible takeover from more than ten suitors, including Anil Ambani-led Reliance ADA Group, says a media report.
The Wall Street Journal has reported that MGM received interest from over ten firms and some made actual bids while others expressed interest but have not submitted offers.
"MGM's current list of suitors includes Time Warner Inc; Lions Gate Entertainment; Summit Entertainment; Liberty Media Corp; News Corp, owner of The Wall Street Journal; and India's Reliance ADA Group," the daily said quoting people with knowledge of the situation.
According to the report, others signalling interest included private-investment firms Elliott Management and Access Industries, which is the investment arm of Russian-born industrialist Len Blavatnik.
The publication noted that offers for the movie studio, in the first round of bids, are not close to covering the USD 3.7 billion that is owed to lenders.
The daily said bids ranged between $1.5 billion and $2.5 billion.
Attributing to people familiar with the situation, the report said that MGM has begun evaluating bids and could start providing more information to serious contenders in the near future.
The Wall Street Journal has reported that MGM received interest from over ten firms and some made actual bids while others expressed interest but have not submitted offers.
"MGM's current list of suitors includes Time Warner Inc; Lions Gate Entertainment; Summit Entertainment; Liberty Media Corp; News Corp, owner of The Wall Street Journal; and India's Reliance ADA Group," the daily said quoting people with knowledge of the situation.
According to the report, others signalling interest included private-investment firms Elliott Management and Access Industries, which is the investment arm of Russian-born industrialist Len Blavatnik.
The publication noted that offers for the movie studio, in the first round of bids, are not close to covering the USD 3.7 billion that is owed to lenders.
The daily said bids ranged between $1.5 billion and $2.5 billion.
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Attributing to people familiar with the situation, the report said that MGM has begun evaluating bids and could start providing more information to serious contenders in the near future.
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