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Time Warner now lone MGM bidder

May 7, 2010 at 11:04 pm by xoanon  - 

Variety: Len Blavatnik’s Access Industries has dropped out of the bidding for beleaguered MGM, leaving only Time Warner Inc. as a potential buyer. Reps for MGM and Access had no comment but a source close to the situation indicated Friday that Access has withdrawn its offer after a deadline passed to accept the bid. For Blavatnik, buying MGM would have established him as a certified showbiz player, but one who would have probably sold off the rights to James Bond and the Hobbit. MGM put itself up for sale in November, drawing a trio of binding offers in mid-March. Lionsgate bailed out of the bidding a week later. More..

Posted in MGM, Studios on May 7, 2010 by

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