MGM watch: 007’s studio may go public

The parent company of Metro-Goldwyn-Mayer, the studio that controls half the James Bond franchise, may become a public company. MGM put out a press release late July 24 that read:

MGM Holdings Inc. (“MGM” or the “Company”) announced today that it has
previously submitted a draft registration statement on a confidential basis to
the U.S. Securities and Exchange Commission (the “SEC”) for a possible initial
public offering of its Class A common stock.

No other details were available. MGM went through bankruptcy in 2010 and a new management team, led by Gary Barber and Roger Birnbaum took over. Nikki Finke’s Deadline Hollywood Web site tries to read the tea leaves in a story you can view BY CLICKING HERE. You can CLICK HERE to read the Hollywood Reporter’s take.

MGM was originally created in 1924 when three studios merged. Most classic MGM movies (Gone With the Wind, Ben Hur, etc.) along with MGM-produced television series such as The Man From U.N.C.L.E., are owned by Time Warner, parent company of Warner Bros.

MGM’s film library includes the old United Artists library, which includes the 007, Pink Panther and Rocky series of movies along with the likes of West Side Story and In the Heat of the Night. UA also acquired half the Bond franchise when Eon Productions co-founder Harry Saltzman sold out in 1975 because of financial difficulties. The slimmed down MGM struck a deal with Sony Corp.’s Columbia Pictures to release the upcoming Skyfall.