MGM now clear of bankruptcy, seeks IPO
MGM Holdings, the successor owner to the original MGM studio’s assets, is considering a public offering of shares, according to a brief statement made by the studio. It has retained Goldman Sachs as an advisor.
MGM entered Chapter 11 bankruptcy protection in November 2010. The company is now owned by a group of investment funds.
Despite the bankruptcy problems the studio is still busy. It has a co-production with Warner Bros for the upcoming The Hobbit pair of movies, although MGM is perhaps best known these days for its James Bond franchise. Skyfall, the latest in the Bond series is due for release in November.