MGM Not For Sale!!! 
Tuesday, August 26, 2008, 02:00 AM
Posted by Manny


It's the rumor of the week -- MGM is for sale! According to Business Week, its backers are getting ready to unload the studio.

But wait, MGM said they're not for sale!

"Contrary to recent media reports, Metro-Goldwyn-Mayer Studios Inc. is not for sale," the studio responded in a statement. "There is no 'asking price' for the company. MGM's existing financing arrangements are sufficient to meet its needs. Goldman Sachs has been retained to explore enhancements to MGM's long-term capital structure. All of the MGM shareholders, including Providence Equity Partners, TPG, Sony Corp. of America and Comcast Corp., are pleased with the company's current momentum and are committed to the future growth of the studio."


Really? Click here to read the full article!

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