30-Jan-2021 • Bond News
Although they refuse to comment to trade papers or confirm it directly, MGM is actively up for sale.
Forbes reports today that Mike Hopkins, senior vice president of Amazon Prime Video and Amazon Studios, has held “exploratory talks” to buy MGM.
"MGM’s former CEO, Harry Sloan is in there too," claims the report. "He and business partner Jeff Sagansky, are raising $1.5 billion for their seventh special purpose investment vehicle — an evaluating potential targets. Spokespeople for Amazon and Sloan’s Eagle Equity Partners declined to comment. Others floated as potential buyers — Comcast’s NBCUniversal and AT&T’s WarnerMedia — are little more than fantasy at this point, though Apple remains a speculative wild-card."
Investors are growing increasingly frustrated by MGM's Kevin Ulrich.
Hopes of fetching the lofty $10 billion price tag Ulrich’s investors are reportedly seeking are rapidly fading. Scoffed one movie biz insider: “Oh please, it’s been for sale for 100 years.”