MGM (Metro-Goldwyn-Mayer), the legendary Hollywood film studio home to the likes of the James Bond and Rocky franchises, is up for sale with a reported asking price of around $5.5 billion (€4.5bn).
MGM Holdings has hired investment banks to find a buyer as the streaming boom sees platform owners bid fiercely for film and television content.
The company’s portfolio includes the Metro Goldwyn Mayer and Orion Pictures film studios, a film library of over 4,000 titles, including Silence of the Lambs, The Terminator and Hobbit franchises, and around 17,000 hours of TV shows, such as The Handmaid’s Tale, Get Shorty, Vikings and Teen Wolf.
MGM was founded in 1924, and has seen huge success over the decades with iconic films such as Gone with the Wind, The Wizard of Oz, Ben Hur and Singin’ in the Rain. It has frequently changed hands with owners including Las Vegas casino billionaire Kirk Kerkorian and CNN founder Ted Turner.