MGM sets deadline for bidders
January 8, 2010
MGM, the film studio burdened by about $4 billion in debt, has set a January 15th deadline for potential buyers to say whether they are interested in acquiring the company.
About a dozen parties, including film studios and investment groups, signed non-disclosure agreements allowing them to examine MGM's finances, according to reports. MGM put itself up for sale in November. Creditors of the studio hope get at least $2 billion from a single buyer or selling assets separately.