http://today.reuters.com/news/newsArticle.aspx?type=industryNews&storyID=2005-04-09T011747Z_01_N08142303_RTRIDST_0_INDUSTRY-MEDIA-MGM-DC.XMLLOS ANGELES (Reuters) - Metro-Goldwyn-Mayer Inc. on Friday said Sony Corp. and a group of partners have completed their $3 billion cash acquisition of the venerable film studio that was a centerpiece of Hollywood's golden age of movie musicals.
Sony Pictures, the movie and television wing of Sony Corp., will assume distribution of MGM's library of some 4,000 movies and 10,000 TV shows, which was a key factor in making the deal. The investor group will repackage old movie titles like MGM's James Bond movies to cash in on new digital technologies.
The MGM library adds to Sony's catalog of some 3,500 movies and 35,000 TV shows.
MGM remains actively operating and based in Los Angeles. It will continue to produce television programs and co-produce movies with Sony Pictures.
...more...
the transfer of US assets to foreign entities marches on
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
