The rumors about MGM seem to come true: the 1924-based production and distribution company is facing bankruptcy. The company with the lion logo now checks whether they will continue to work alone or may require a partnership approach, or a sale . Metro-Goldwyn-Mayer is with nearly four billion U.S. Doller in debt. In total there are approximately six billion U.S. Doller.
are particularly valuable film library with some 4,000 titles (including the Rocky and Pink Panther movies) and the rights to the James Bond and the two "Hobbit" movies. This is the logo and its subsidiary United Artists.
interested in a sale have already been reported: Time Warner, News Corp.. (The owners of the 20th Century Fox) and Lions Gate.
particular lot was not shown this year by MGM. Only "Fame" made it to American screens, turned out to be flop . Next year looks no better: "Hot Tub Time Machine" is scheduled for March, "The Zookeeper" and "Red Dawn" will follow in late 2010.
This is not the first time that MGM changing hands. 2004 saw the last time being acquired by Providence Equity Partners, Texas Pacific Group, Sony Corp. and Comcast. At that time it was around 5 billion dollars.
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