Film company management Metro-Goldwyn-Mayer (MGM) began to cooperate with two investment companies Morgan stanley and LionTree Advisorsto consider your sale. Sources say this The wall street journal and Deadline…
Analysts and bankers are tasked with valuing assets and attracting attention from Hollywood studios and international conglomerates. MGM currently does not have the strength to compete on an equal footing with major film studios, but the company is a pretty tasty morsel.
According to preliminary data, the market value of Metro-Goldwyn-Mayer is estimated at $ 5.5 billion. The studio has a long-term debt of about $ 2.3 billion. The largest investor is a hedge fund Anchorage Capital, whose management is being pressured by other shareholders who hope to withdraw money.
Metro-Goldwyn-Mayer has long been at a protracted peak. So, in 2010, the company filed for bankruptcy, followed by a painful restructuring procedure.
The pandemic has also become a serious problem. MGM’s largest project is a film about the adventures of a British agent James Bond “No time to die“(No time to die), which was supposed to be released in the spring of 2023 (the studio owns a significant part of the rights to rent and broadcast the tape). As a result, it had to be moved to April 2023, and another transfer is not excluded.
At the same time, insiders reported numerous problems with production, reshoots, as well as the failure of test impressions. According to preliminary data, James Bond will lose his title “agent 007“which will go to the spy in the performance Lashany Lynch… At the same time, the producers hope to make the African-American actress the main character of the spin-off in the future.
In a pandemic, MGM is losing a lot of money, and the budget of the film “No Time to Die” has already exceeded $ 250 million. And the company is considering selling temporary tape rights to streaming services.
According to insiders, it was originally planned to sell an annual license for approximately $ 600 million, but the production company Eon Producrtions (controls the license for James Bond, and is also responsible for the production of the film with MGM) allegedly decided that the lot could be sold for a billion dollars. While streaming platforms have shown a lot of interest in the auction, paying a billion dollars for one movie is too expensive.
According to sources Deadline, while the preparatory stage of the sale of the studio MGM. Real negotiations start only after the release of the film “No Time to Die”. Talk about selling Metro-Goldwyn-Mayer has been going on for the past few years, and Hollywood is confident that this process is inevitable. Therefore, many potential buyers will take a wait and see attitude.
However, a large portfolio of promising projects that are in production can raise the price of a studio. For example, “Creed 3“, film adaptation of the book The water dancer with Oprah Winfrey, rebut “Pink panther“, a new project of the director Paul Thomas Anderson, movie Ridley Scott “Gucci“(Lady Gaga will play Patricia Reggianiwho organized the murder of her husband Maurizio Gucci for treason) and so on.
Read also: Mickey Mouse Hocus Pocus: Disney Destroyed HBO Max with Movie and TV Series Napalm
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