MGM bids by March 19

Chris Forrester ©RapidTVNews | 09-03-2010

The second round of bids for the purchase of the MGM studio must be in by March 19. News Corp will not be bidding, say reports.

The other interested parties include Liberty Media, Lions Gate Ent., Access Industries (Len Blavatnik), and Time Warner. News Corp has confirmed that the company submitted a purchase plan in January which involved a cash transaction and debt restructuring of MGM, but had not received a response.

However, currently few insiders think the successful bidder will be going much higher than $2bn, and MGM owes a massive $3.7bn of debt.

© Rapid TV News 2010

 

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