MGM refinances and postpones talk of public offering

MGM, the studio who owns 50% of the James Bond movie franchise, closed a $650m refinancing of its debt this month, calming speculation that the lion would be filing for a public offering in the coming months.

Industry watchers said MGM "will use the debt to replace its existing $500m credit line and to repay studios that have advanced it funds for joint production on films such as 'Hobbit: An Unexpected Journey'".

Sony's Columbia Pictures produced the 007 blockbuster "Skyfall" with MGM, helping to fund and distribute the film around the world. The success helped ink a deal to continue the relationship with Bond 24 and Bond 25.

Trade papers claim MGM is also contemplating making new media acquisitions or buying film projects as it continues to ramp up its production activities.

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