Indian Conglomerate Makes Bid for MGM
Thanks to Ringer Kookie for this heads up from the NY Times:
Posted in Hobbit Movie, Miscellaneous, Rumors Spy News, The Hobbit on September 17, 2010 by Celeborn Source: New York Times Indian Conglomerate Makes Bid for MGM | Discuss
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.