Ridley and Tony Scott interested in Metro-Goldwyn-Mayer (MGM)
British directors Ridley and Tony Scott would be interested to get involved in financial rebalancing studio Metro-Goldwyn-Mayer (MGM), given that they face serious problems and is not ruled out selling them to cover the debt.
The brothers would like to “conduct restoration studios solvent, after the restructuring plan, say Hollywood sources, quoted by U.S. media.
Ridley and Tony Scott are two of the most influential film industry people who have linked the name of memorable productions as “Gladiator,” “Alien” or “Top Gun”.
In late March, said sources close to MGM as Time Warner, Lions Gate Entertainment (LGF) and Access Industries have made offers between 1.2 and 1.5 billion euros to buy the studio.
MGM has confirmed that it received several offers that we will review in the coming weeks, following a creditors’ committee to gather studios to assess business situation.
Studios try to avoid that scenario would be forced to fail, because such company’s assets would depreciate and franchise value would be jeopardized as James Bond and The Pink Panther “, but rights for” The Hobbit ” film whose story precedes action series “Lord of the Rings.”
For months, MGM is trying to restructure debt accumulated, mostly in 2005, when a group of investors led by Pacific Group and Providence Equity Partners bought the studios for nearly five billion dollars.
In May 2008, the company has hired investment banking firm Moelis & Co. to help it reduce the debt to 140 creditors.
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