MGM loses a bidder as price rises
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NEW YORK Time Warner on Monday withdrew its bid for Metro-Goldwyn-Mayer after failing to reach agreement on a price for the film studio controlled by billionaire investor Kirk Kerkorian.
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The discount brokerage posted a larger-than-expected quarterly loss after a $2.2 billion charge related to the sale of its asset-backed securities portfolio.
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US media group Time Warner withdraws its bid for movie studio Metro-Goldwyn-Mayer after failing to agree a price.
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Los Angeles-based Metro-Goldwyn-Mayer Inc. isn&#39;t allowing employees&#39; to trade shares in the company, and may announce a deal to be bought for as much as $5 billion, Reuters is reporting.
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Entertainment companies had been vying for MGM to get their hands on its library of more than 4,000 titles. Time Warner initially was seen as the front-runner in the race.
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Comcast swooped in to save Sony Corp.&#39;s bid for MGM Corp., but highly-placed people on Wall Street are now wondering what the real price will be.
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Metro-Goldwyn-Mayer Inc. (MGM.N: Quote, Profile, Research) shares jumped more than 7 percent on Wednesday on a report that a deal to acquire the company for up to $5 billion could be announced as early as next week.
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A group led by Sony of America reached a tentative agreement to buy Metro-Goldwyn-Mayer for about $4.8 billion in cash, snatching it from Time Warner at the 11th hour.
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The carrier sells its shares at a steep discount to the market price.
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As a bidding war raged Thursday for Hollywood Entertainment Corp., the founder and CEO of the nation's No. 2 movie rental chain abruptly resigned.
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WASHINGTON -- Sony Corp. is set to take over Hollywood film giant Metro-Goldwyn-Mayer Studios Inc. (MGM) for about 5 billion dollars, Sony officials said Monday.
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Industry talk over the potential sale of Metro-Goldwyn-Mayer might have subsided in recent weeks.
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Blog: In an acquisition announcement-heavy day, the auction giant reports it has coughed up $75 million for the "discovery" service.
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Blockbuster Inc. threatens Hollywood Entertainment Group with a hostile takeover if the board does not decide on negotiating over the its tender offer for the purchase of all outstanding shares at the price of $11.50 a share in cash.
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LOS ANGELES/TOKYO  - A group headed by Sony Corp.  of America has agreed to buy Hollywood film studio  Metro-Goldwyn-Mayer for about $2.85 billion in cash to mine  MGM's lucrative library for the booming DVD market.
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On Monday, Kirk Kerkorian sold Metro-Goldwyn-Mayer Inc. for the third time. As a Hollywood reconciliation story, that means Kerkorian has bought and sold the venerable movie studio more times than Elizabeth Taylor married Richard Burton.
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Olivant Advisers dropped out of the bidding, saying it failed to come up with an offer that would satisfy both it and the government. The move increased the chances for Richard Bransonâs Virgin Group.