MGM Holdings Inc., the co-owners of the James Bond franchise, is reportedly looking to sell its studio and film library.
With a current market value of $5.5 billion USD (including debt), the entertainment giant’s largest shareholder as of writing is hedge fund Anchorage Capital, led by Kevin Ulrich who also serves as the head of MGM’s board of directors. The company has now enlisted the help of Morgan Stanley and LionTree LLC to begin a formal sale.
The studio has been pushing for a sale in the past, and with the COVID-19 pandemic, MGM’s titles are expected to be highly valued in the market. Its library of content consists of over 4,000 titles and 17,000 hours of television programming, and includes blockbuster franchises such as The Hobbit and Rocky, and TV titles like The Handmaid’s Tale and Vikings.
Elsewhere in entertainment, Congress’ COVID-19 stimulus bill will make illegal streaming a felony.
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