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 Reps for MGM and Access had no comment but a source close to the situation indicated Friday that Access has withdrawn its offer after a deadline passed to accept the bid.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..
Time Warner now lone MGM bidder
May 7th, 2010 by xoanon
