Click to Skip Ad
Closing in...
Friday Box Office: 'Adaline' Bumps 'Furious' for a Day; 'Kurt Cobain' Big in 3 Theaters Friday Box Office: 'Adaline' Bumps 'Furious' for a Day; 'Kurt Cobain' Big in 3 Theaters Remembering Film Critic Richard Corliss (1944-2015) Remembering Film Critic Richard Corliss (1944-2015) Cannes: Denis Villeneuve Says Drug War Film 'Sicario' Is "Very Dark" and "Quite Violent" Cannes: Denis Villeneuve Says Drug War Film 'Sicario' Is "Very Dark" and "Quite Violent" How Do You Solve a Problem Like Erika? Universal Hires Husband to Write 'Fifty Shades Darker' How Do You Solve a Problem Like Erika? Universal Hires Husband to Write 'Fifty Shades Darker' 'Age of Ultron' Director Joss Whedon on Self-Doubt and Why It's His 'Rio Bravo' 'Age of Ultron' Director Joss Whedon on Self-Doubt and Why It's His 'Rio Bravo' Watch: Julia Louis-Dreyfus, Tina Fey, Patricia Arquette and Amy Schumer Hilariously Slam Hollywood Sexism (NSFW) Watch: Julia Louis-Dreyfus, Tina Fey, Patricia Arquette and Amy Schumer Hilariously Slam Hollywood Sexism (NSFW) CinemaCon: How Tom Cruise Stole the Paramount Show CinemaCon: How Tom Cruise Stole the Paramount Show Meet the Director of 'Tangerines,' the 2015 Dark Horse Oscar Nominee You Missed (Exclusive Video) Meet the Director of 'Tangerines,' the 2015 Dark Horse Oscar Nominee You Missed (Exclusive Video) LA Film Fest Unveils Horror Slate, More World Premieres, Zoe Cassavetes Film LA Film Fest Unveils Horror Slate, More World Premieres, Zoe Cassavetes Film Cannes: Directors' Fortnight Lines Up Vet Auteurs and American Indies Cannes: Directors' Fortnight Lines Up Vet Auteurs and American Indies Joe Wright's 'Pan' Gets Fall Release Date: Good News or Bad News? Joe Wright's 'Pan' Gets Fall Release Date: Good News or Bad News? Seeing Ryan Gosling's 'Lost River' Through Composer Johnny Jewel's Eyes (STREAM SOUNDTRACK) Seeing Ryan Gosling's 'Lost River' Through Composer Johnny Jewel's Eyes (STREAM SOUNDTRACK) 3 Women Genre Directors Get SF Film Society Fellowships 3 Women Genre Directors Get SF Film Society Fellowships Here's Why Jon Stewart Quit 'The Daily Show' Here's Why Jon Stewart Quit 'The Daily Show' Watch: From Tarantino to Cronenberg, Great Directors Talk the Art and Anxiety of Filmmaking Watch: From Tarantino to Cronenberg, Great Directors Talk the Art and Anxiety of Filmmaking Specialty Box Office: 'True Story' and 'Child 44' Flop as 'Ex Machina' Lures Audiences Specialty Box Office: 'True Story' and 'Child 44' Flop as 'Ex Machina' Lures Audiences Tribeca Film Festival Matches George Lucas with Stephen Colbert: “I’m gonna tear you a new one, George" Tribeca Film Festival Matches George Lucas with Stephen Colbert: “I’m gonna tear you a new one, George" 10 Films Booed at Cannes That Every Cinephile Should See 10 Films Booed at Cannes That Every Cinephile Should See 5 Things You Didn't Know About Lars von Trier, Who's Going Back to Work 5 Things You Didn't Know About Lars von Trier, Who's Going Back to Work 7 Things to Learn from 'Mad Men' Creator Matthew Weiner About Compelling Storytelling (EXCLUSIVE VIDEO) 7 Things to Learn from 'Mad Men' Creator Matthew Weiner About Compelling Storytelling (EXCLUSIVE VIDEO)

Will MGM Go Asian?

Photo of Anne Thompson By Anne Thompson | Thompson on Hollywood September 19, 2010 at 11:23AM

The Wall Street Journal reports that Indian conglomerate Sahara India Pariwar is in exploratory talks to buy MGM for more than $2 billion, according to one source:
1
Thompson on Hollywood

The Wall Street Journal reports that Indian conglomerate Sahara India Pariwar is in exploratory talks to buy MGM for more than $2 billion, according to one source:

This person cautioned that the talks were at an early stage, and that MGM and its stakeholders haven't yet shown substantial interest in doing a deal with Sahara, a Lucknow-based company whose businesses, according to its website, include TV and film.

After Spyglass execs Gary Barber and Roger Birnbaum signed a non-binding letter of intent September 8 to take over beleaguered MGM as co-chairmen and co-CEOs, on September 15, for the seventh time MGM's lenders agreed to extend the forbearance period and not seek remedies in connection with the nonpayment of interest and principal due on the company’s bank debt, including the revolving credit facility, until October 29, 2010, the studio reported:

The lenders took this action in support of the Company’s ongoing efforts to evaluate long-term strategic alternatives to maximize value for its stakeholders. MGM appreciates the continued support of its lender group throughout this process.

UPDATE: Here's THR.

This article is related to: Studios, News, MGM/UA


E-Mail Updates