MGM is leading media acquisition target, CNBC says

MGM’s Leo the Lion logo

Metro-Goldwyn-Mayer, James Bond’s home studio, is the leading acquisition target among media companies as the industry consolidates, CNBC reported.

MGM “has held preliminary talks” with companies including Apple and Netflix “to gauge their interest,” the financial news network said in an online story. CNBC cited two people familiar with the situation it didn’t identify.

The Wall Street Journal reported last month that Apple held preliminary talks with MGM.

Danjaq, parent company of Eon Productions, and MGM control the Bond film franchise. MGM is owned by a group of hedge funds, which acquired MGM out of a 2010 bankruptcy.

MGM may now be worth $10 billion, CNBC said. Besides Bond, it produces television shows for cable networks and streaming services and owns the Epix premium channel.

Netflix has prompted studios including Walt Disney Co. to start their own streaming services. Apple also has established a streaming service and reportedly is looking to add programming.

2 Responses

  1. Do Broccoli and Wilson have any say in the matter, or are they simply watching from the sidelines?

  2. When it comes to whether MGM is sold, they’re sitting on the sidelines.

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