MGM Holdings, the production company and studio that produced the film ‘James Bond’ puts itself up for sale at $5 billion. The company has started exploring for potential buyers.
According to Business Insider, the company has already started the sales process. The MGM studio market sale value of the company is now $5 billion. The value of MGM stands at this level only after taking into account the loan status.
MGM has produced or marketed many popular films and TV serials. These include all the popular names like ‘Legally Blonde‘ and ‘A Star Is Born‘. Analysts believe that this will further increase the market value of the company.
However, MGM is most famous for the movie ‘James Bond’. The ‘James Bond’ film they did not produce alone, however, was with the holding company Danczak. They also recently launched the streaming service Apex Legends.
MGM hopes that not only Hollywood’s well-known production companies, but many more companies will show interest in them.
But, Business Insider did not agree with MGM’s comments. However, this is not the first time that MGM has been looking for customers in the recent past.
In 2016, a Chinese company wanted to buy MGM for $8 billion. The deal was almost done, but at the last moment, everything canceled.
Former MGM chief executive Gary Barber also spoke with Apple two years ago. Then the price rose to $6 billion. But MGM fired Gary Barber for discussing the matter in advance without informing the company.
Kevin Ulrich, co-founder and chairman of the company assured investors that MGM would not be sold for less than $8 billion.
Meanwhile, the film industry has also been hit hard by the epidemic. Everything was shut down during the lockdown, and many pictures had to be postponed.
MGM’s was not spared that cries. The release date of Bond’s new film ‘No Time to Die’ has been postponed from November to April 2021.
Because they want the film to be released. Even MGM wanted to bring the film live streaming. For that, they asked Netflix and Apple for $600 million. But Netflix and Apple wanted to pay half.
Meanwhile, Warner Bros. surprised everyone with another announcement in early December. They said that all the films they will release in 2021 will be released on the streaming site HBO Max as well. But leading people in Hollywood have criticized the decision.
“HBO Max is the world’s worst streaming service,” said Christopher Nolan, director of Tenet.