Potential MGM Sale Nothing To Roar About
In Hollywood history, Metro Goldwyn Mayer, with its famous pre-film roaring lion, is legendary. Founded nearly a century ago, it’s the studio that made “The Wizard of Oz,” “Ben-Hur” and many classic musicals, including “Singin’ in the Rain.”
More recently, though, MGM’s output has slowed to a trickle, and the studio has been through bankruptcy proceedings. The release of its next James Bond film, “No Time to Die,” has been postponed to next year.
The Wall Street Journal, which broke the news of a possible sale, said the privately held MGM believes its library of film and TV titles could be attractive to streaming services. But a potential price tag of more than $5 billion might scare away potential buyers, and give the MGM lion little reason to roar.