Sony-led group to buy MGM for $5 billion

Maciamo · Sep 15, 2004, 22:51

Sony-led group to buy MGM for $5 billion

LOS ANGELES (AP) A consortium led by Sony has agreed in principle to acquire famed Hollywood studio Metro-Goldwyn-Mayer for nearly $5 billion, MGM said.

Sony was already owner of Columbia Picture. Hollywood is slowly becoming Japanese...

Acquiring MGM's vast library of more than 4,100 films boosts the content Sony can now offer on DVD and on portable devices, many of which Sony makes. Sony also announced in a statement that it has reached a distribution deal with Comcast, the nation's largest cable provider, that would allow video on demand and new cable channels featuring Sony and MGM content.

Sony has agreed to pay $12 a share for MGM, or about $2.94 billion cash -- a 4 percent premium over MGM's closing price of $11.55 Monday on the New York Stock Exchange. The deal also calls for Sony to assume about $1.9 billion in MGM debt.

-]5pace.pirat3]+ · Nov 24, 2004, 11:19

ahh fascinating

AE86 · Dec 27, 2004, 18:39

And I quote from the Movie Die Hard....

John McClane ( Bruce Willis ):
"I didn't realize you celebrated Christmas in Japan."
Mr. Takagi (James Shigeta):
"Pearl Harbor didn't work out so we got you with tape decks."

Sony is taking over the world!

calsonic · Feb 21, 2005, 14:03

The real genius here is Kirk Kirkorian. He brought MGM for peanuts and is now selling for a mint.

Sep 15, 2004, 22:51	#1
Maciamo Decommissioned ex-admin Join Date: Jul 17, 2002 Location: Austrasia Posts: 6,647	Sony-led group to buy MGM for $5 billion Sony-led group to buy MGM for $5 billion LOS ANGELES (AP) A consortium led by Sony has agreed in principle to acquire famed Hollywood studio Metro-Goldwyn-Mayer for nearly $5 billion, MGM said. Sony was already owner of Columbia Picture. Hollywood is slowly becoming Japanese... Acquiring MGM's vast library of more than 4,100 films boosts the content Sony can now offer on DVD and on portable devices, many of which Sony makes. Sony also announced in a statement that it has reached a distribution deal with Comcast, the nation's largest cable provider, that would allow video on demand and new cable channels featuring Sony and MGM content. Sony has agreed to pay $12 a share for MGM, or about $2.94 billion cash -- a 4 percent premium over MGM's closing price of $11.55 Monday on the New York Stock Exchange. The deal also calls for Sony to assume about $1.9 billion in MGM debt. __________________ Over 100 destinations in the Japan Sightseeing Guide + detailed Tokyo Guide and Kyoto Guide Eupedia : Your Guide to Europe in English Read the "Maciamo FAQ" "What is the use of living, if it be not to strive for noble causes and to make this muddled world a better place for those who will live in it after we are gone?", Winston Churchill.

Nov 24, 2004, 11:19	#2
-]5pace.pirat3]+ eroticist Join Date: Nov 23, 2004 Location: silicon valley Age: 23 Posts: 69	ahh fascinating __________________ You Suck! :winklove: myspace

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Dec 27, 2004, 18:39	#3
AE86 Junior Member Join Date: Dec 23, 2004 Age: 44 Posts: 5	And I quote from the Movie Die Hard.... John McClane ( Bruce Willis ): "I didn't realize you celebrated Christmas in Japan." Mr. Takagi (James Shigeta): "Pearl Harbor didn't work out so we got you with tape decks." Sony is taking over the world!

Feb 21, 2005, 14:03	#4
calsonic Regular Member Join Date: Feb 21, 2005 Posts: 19	The real genius here is Kirk Kirkorian. He brought MGM for peanuts and is now selling for a mint.