Cita:Sony-Led Group May Agree to Buy MGM for $5 Bln, USA Today Says
June 18 (Bloomberg) -- A group led by Sony Corp. is in the final stages of agreeing to buy the Metro-Goldwyn-Mayer Inc. film studio for $5 billion, USA Today reported, citing unidentified people with direct knowledge of the talks.

Sony and its buyout-firm partners Texas Pacific Group and Providence Capital would pay $13 for each share of MGM plus assumption of debt, the newspaper said. The deal may be announced before MGM's annual meeting on June 29.

``The report is just speculation,'' said Keita Sanekata, a spokesman for Sony at the company's headquarters in Tokyo. ``Our position remains the same.''

Sony, which already owns Columbia Pictures, was in exclusive talks with MGM in May, people familiar with the discussions said last month. After the exclusivity agreement expired, General Electric Co.'s NBC Universal unit, Time Warner Inc. and Viacom Inc. were considering bids, the New York Post reported on June 8.

Sony, Texas Pacific and Providence Capital would provide $1.5 billion in equity financing, USA Today reported. Sony banker Credit Suisse First Boston would provide $3.5 billion of debt financing, and CSFB's DLJ Merchant Banking might also contribute some cash, the newspaper said.

Gavin Sullivan, a spokeswoman at CSFB in London, declined to comment on the newspaper's report. MGM declined to comment, the paper said.

An agreement would mark the third time billionaire Kirk Kerkorian, who controls 74 percent of MGM, has sold the studio. Kerkorian tried unsuccessfully to merge the studio with Sony Pictures in 2001.

Lucho Cohaila Guzman escribió:pues obviamente Sony quedaría en último aunque de NBC NI IDEA DE SU TRABAJO!!!!!!!!!!!

Cita:With Sony apparently unable to construct a final offer for MGM, it's looking increasingly likely that Time Warner will swoop in and grab the prize.


Bagging the Lion would give Time Warner a nice little bonus -- worldwide theatrical and television rights to J.R.R. Tolkien's "The Hobbit." What a sweet addition to New Line's "The Lord of the Rings" franchise. Hey Peter Jackson, what are your plans after "King Kong"?


The conglom's deal is cleaner -- one buyer offering Time Warner stock -- and more tax-efficient. It would be chairman-CEO Richard Parsons' first major acquisition after a string of asset sales to cut debt.


Sony Corp (NYSE:SNE - news) (news - web sites). chairman Nobuyuki Idei, speaking at an event in Korea Thursday, acknowledged "some complications" in the Japanese giant's merger talks with MGM. Reuters quoted Idei as saying, "It's up to the MGM management now."


The statements, which one insider ascribed to a "lost in translation" effect, caused a mild tizzy at both companies, which are still talking -- particularly since the holdup isn't on the MGM side at all, but still resides at Sony. The conglom and its two equity partners, Texas Pacific and Providence Equity, are struggling to get onto the same page. Since Sony isn't the one putting up the cash, it can't control the process.

Cita:According to an unconfirmed report on the defamer.com website, the sale of MGM to Time Warner is complete.

'Spies are telling us that Time Warner officially purchased MGM today,' says the Hollywood scoop site. '...(with) internal discussion of the incredibly complicated integration... to start tomorrow.'

Buzz of a Time Warner takeover of MGM was reported by The Wall Street Journal in early September, and reports have continued to surface of an imminent deal between the two mega-studios. MGM had previously released a statement calling reports that it could sell for as high as $5 billion 'inaccurate.'

Time Warner has had shown interest in MGM before, as have other major studios -- including Sony, which was reportedly seriously considering a bid for MGM this past spring and summer. However, sources say that Sony was unable to come to final terms with its partners in the proposed investment.

Time Warner is very familiar with the MGM catalog of over 4,000 titles, as it had distribution rights to many of the films resulting from a brokered by Ted Turner in the 1980s.

There has been no official word of the deal between Time Warner and MGM as of yet.

BC Meyer

theoden escribió:Sin duda, has resumido los posibles beneficios que podriamos obtener los aficionados tanto al cine como al DVD.

Punto negativo: adios al DTS en títulos que caigan en manos de Warner Home Video.

Cita:Sony nabs MGM for $5B, source says

Japanese firm reportedly reaches a deal to buy the legendary studio after Time Warner drops out.
September 14, 2004: 5:40 AM EDT



NEW YORK (CNN/Money) - Sony Corp. has reportedly reached an agreement to buy film studio Metro-Goldwyn-Mayer Inc. in a deal worth about $5 billion, a wire report said Monday, just hours after rival Time Warner Inc. dropped out of the bidding.

Sony (SNE: Research, Estimates) and its partners -- investor groups Providence Equity Partners, Texas Pacific Group and an arm of Credit Suisse First Boston -- are now offering to buy MGM for about $12 a share, or about $2.9 billion in stock, plus the assumption of $2 billion of debt, Reuters reported.

That was up 75 cents a share from Sony's original bid of $11.25 a share, or a little under $4.7 billion, including the debt, the news agency said, citing a person close to the talks.


Earlier Monday, Time Warner withdrew its bid for MGM, saying the two entertainment firms have failed to agree on a price.

"Although MGM is a valuable asset, we have decided to withdraw our bid," Dick Parsons, chief executive of Time Warner, said in a statement. "Unfortunately, Time Warner could not reach agreement with MGM at a price that would have represented a prudent use of our growing financial capacity."

Time Warner (TWX: down $0.06 to $16.45, Research, Estimates) was offering about $11 a share, or $4.5 billion to $4.6 billion, for MGM (MGM: up $0.44 to $11.55, Research, Estimates).

Entertainment firms have been vying for MGM to get its library of more than 4,000 films, which includes the James Bond, Pink Panther and Rocky titles.

The acquirer would be able to reformat the library's films for sale in the sizzling DVD market.

Reuters also reported that cable television giant Comcast Corp. (CMCSA: up $0.12 to $28.12, Research, Estimates) will be a minority investor in Sony's purchase of MGM.

Time Warner is the parent company of CNN/Money.

warpath escribió:bueno pues Sony ya empezo a hacer de las suyas con los titulos de MGM, en USA ya se esta anunciando la edicion del 10 aniversario de PELOTON y los malditos discriminadores y hasta me atrveria a decir racistas de Sony no le van a incluir subtitulos en español, es una lastima que esta gente de Sony tenga estas politcas absurdas y es muy almentable que metan mano en muchas cosas y las echen a perder, incluso muchos titulos de Sony en CD estan descontinuados, no se que opinen ustedes pero yo creo que Sony es un cancer en la industria del entretenimeto, una pildora amarga dificil de tragar y porsupuesto son unos hijos de... :fist:

DVDGeekoid escribió:Lion Bites Owner's Hand :lol: que comico este headline!! hahaa


Although Sony was described as the leader of the consortium that bought Metro Goldwyn Mayer a year ago, the MGM board on Tuesday voted to end its agreement with Sony to distribute its DVDs and television shows and to sign a new worldwide distribution pact with 20th Century Fox. Sony, however, will continue to distribute MGM's films theatrically, including the upcoming James Bond movie, Casino Royale, scheduled for release in November. As a result of the board vote, Sony will lose $25-30 million a year in distribution fees, according to a Los Angeles Times estimate. In an interview with the newspaper, MGM CEO Harry Sloan downplayed reports of tensions between MGM and Sony, saying only: "There are always going to be challenges in a relationship of this manner. ... This has much more to do with MGM coming alive as a viable independent motion picture studio." In an interview with Bloomberg News, media analyst Paul Kagan commented, "It's an admission that Fox can do it better." Sony holds a 20-percent stake in MGM.

Esta noticia ayer fue un gran shock al mercado por que ya Sony estaba finalizando los planes de sus lanzamientos de finales de 06... Ahora sera interesante lo que Fox hara con Bond, Rocky y otras propiedades MGM...