Metro-goldwyn-mayer For Sale

[dishdoctor]

News Corp, owner of the Twentieth Century Fox film studio, is at an impasse in talks on a possible bid for Metro-Goldwyn-Mayer Inc. News Corp, based in New York, is balking at terms closely held MGM is seeking from potential bidders ahead of a formal auction. News Corp has objected to provisions of a non-disclosure agreement that could subject the company to legal liability.

Burdened by about $4 billion in debt, Los Angeles-based MGM put itself up for sale in November 2009. Creditors hope to get at least $2 billion from a single buyer or sell assets separately.

Comcast Corp. and Sony each own 20%, while DLJ Merchant Partners holds 7% and Quadrangle Group holds 3% of MGM. Led by Providence, the group bought MGM for $5 billion in 2005. Sony and Comcast have written off their investments.
Time Warner Inc, News Corp and Qualia Capital LLC are among the parties that may be interested in MGM, owner of the "James Bond" franchise and a library of 4,100 films.