Retail Industry
Industry: Email Alert RSS FeedMGM high on DVD.(Metro-Goldwyn-Mayer Inc.)(Brief Article)
Video Business, July, 2004 by Ault, Susanne
* MGM brass trumpeted the studio's recent financial performance--featuring heavy DVD contributions--at its annual shareholders meeting last week. Shareholders were likely more interested in hearing officials respond to reports that Time Warner is making serious attempts to acquire MGM, but only the broadest references were made to the Lion's prospective sale.
For months, Sony has been the frontrunner to purchase MGM, which is considered to hold the industry's most valuable 4,000-title film catalog. The meeting had been postponed from May to apparently allow MGM more time to finalize its negotiations with Sony. Yet MGM CEO Alex Yemenidjian said the studio had no fresh news in regard to "considering certain strategic terms." After stating that "MGM is in its...
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