MGM’s gigantic movie library is set to attract bids from major streaming services.
Even though it’s not a Hollywood major in the way it once was, MGM is still a sizeable name in the history of the movies. It nearly went under at the turn of the last decade, saved in the end by investors who have seen a better period for the studio since. But now, those investors might just be about to cash in, with word that MGM may follow 20th Century Fox as the latest Hollywood name to be amalgamated into a giant media company.
It’s being reported that MGM has been apparently chatting to both Netflix and Apple, over a possible sale. And the key selling point is the incredible MGM catalogue of titles – one of the largest in Hollywood – which is seeing a price of some $10bn banded around. Of course there are major franchises in there – MGM has Rocky, a chunk of James Bond and the Spaghetti Westerns for a start. But also there’s a huge collection of movies dating back decades.
Perfect, in fact, if you happen to be a streaming giant looking to fend off the threat of Disney+.
None of this is official of course, and nobody is saying anything on the record. But it’s looking like the chances of MGM having new owners by the end of the year are not remote.
We’ll keep you posted as we hear more, of course.
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