Time Warner Inc. is weighing the possibility of making a second offer for Metro-Goldwyn-Mayer, another major Hollywood studio. The second round bid from MGM would amount to $1.5 billion should the decision become final. As of now, the company, which owns Warner Bros. and CNN has yet to take a concrete stance on the matter.
The second round of bidding will pit Time Warner against other companies like independent studio, Lions Gate and Access Industries. Lions Gate is said to have placed a big between $1.4 and $1.8 billion. The final deadline for bids is March 19, though MGM would likely be willing to lengthen that time period should it mean a higher offer.
MGM has more than 4,000 films in its library as well as part of the Peter Jackson project "Hobbit", which has yet to be produced.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
Sign up for a free one-year subscription
