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MGM Holdings are contemplating selling its studios in hopes of catching the eye of “international media companies, private-equity investors and blank-check companies.” On Dec. 21, 2020, The Wall Street Journal reported that MGM has begun the paperwork to sell the company.
The movie studio behind the “James Bond” franchise is estimated to be worth around $5.5 billion. According to The Wall Street Journal, the investment banks Lion Tree LLC and Morgan Stanley have begun the formal sale process.
At various points throughout the years, MGM studios have contemplated selling its business. Throughout its history, the company has either acquired other studios or sold pieces to other studios.
For instance, WarnerMedia currently owns all of the pre-May 1986 movies from the Metro-Goldwyn-Mayer catalog. This is why the company goes by MGM Holdings now.
The Wall Street Journal further stated that the company is hoping to explore a sale now that there is “a bidding war for content to fill a new wave of streaming-video services.” MGM feels their library should make “an attractive target.”
Hoping to Become a Springboard
Currently, it is unclear if any other studios are interested in purchasing the company. At this time the company has a few major projects due to hit the big screen with the incoming year. The company is hoping to be the springboard for new studios’ success.
Some of the films scheduled for release are “No Time to Die, “Candyman” reboot, along with the new GI Joe movie reboot.
Currently, MGM’s are filming “Mad Max: Fury Road,” and have stated they are planning a third “Legally Blonde” movie.
The company is looking forward to helping the next rising studios.
Written by Sheena Robertson
Sources:
Comicbook: MGM Holdings, Home to James Bond and Rocky, up for Sale with Potential $5 Billion Price Tag; by Spencer Perry
The Wall Street Journal: MGM Holdings, Studio Behind ‘James Bond,’ Explores a Sale; by Benjamin Mullin, Cara Lombardo and Juliet Chung
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Inline Image Courtesy of Demis Gallisto’s Flickr Page – Creative Commons License