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Indian Conglomerate Makes Bid for MGM

September 17, 2010 at 10:52 pm by Celeborn  - 

Thanks to Ringer Kookie for this heads up from the NY Times:

Sahara India Pariwar, an Indian conglomerate with real estate and media holdings, says it has made a $2 billion bid to buy the debt of the struggling Hollywood studio Metro-Goldwyn-Mayer. It was unclear how MGM’s committee of creditors viewed the offer. A spokeswoman for the studio declined to comment. The offer came a day after MGM said it had received another extension on an agreement to put off interest payments on about $4 billion in debt until Oct. 29.

[Full Story]

Posted in Hobbit Movie, Miscellaneous, Rumors Spy News, The Hobbit on September 17, 2010 by Source: New York Times Indian Conglomerate Makes Bid for MGM | Discuss