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Time Warner drops MGM bid – Hobbit Shelved?

September 13, 2004 at 12:21 pm by xoanon  - 

NEW YORK (CNN/Money) – Time Warner Inc. said Monday it would no longer pursue film studio Metro-Goldwyn-Meyer Inc., saying the entertainment companies failed to reach an agreement on price. “Although MGM is a valuable asset, we have decided to withdraw our bid,” Dick Parsons, chief executive of Time Warner, said in a statement. “Unfortunately, Time Warner could not reach agreement with MGM at a price that would have represented a prudent use of our growing financial capacity.” [More]

Posted in Old Main News on September 13, 2004 by

Daggers of Tauriel

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