Lions Gate

MGM may still merge with Lions Gate, according to an article published by Reuters. MGM is currently in bankruptcy proceedings, which it is expected to emerge from before the year end. While the studio has announced that it plans to release Bond 23 in November 2012 and then produce a new James Bond film every [...]

Carl C. Icahn released the following statement on October 12th: “We are holders of significant positions in both Lions Gate stock and MGM debt. Today, Lions Gate has made a proposal to combine these two companies. We believe that this combination of Lions Gate and MGM would enhance value for all constituencies and we believe [...]

First nothing seems to be moving to resolve the crisis at MGM and then it all happens at once. First of all, Spyglass signed a letter of intent to take over the running of the studio; then Sahara entered the picture, with a bid that was rumoured to have the backing of Barbara Broccoli and [...]

The proposed merger between Lions Gate and MGM aren’t going at all smoothly thanks to Carl Icahn’s hostile takeover bid of Lions Gate. According to an article in the New York Post: Merger talks between Lionsgate Entertainment and MGM are not going well, sources close to the situation said. Lionsgate, the producer of the “Mad [...]

According to an article in BusinessWeek, Lions Gate Entertainment has approached MGM’s creditors with the aim of acquiring the studio, although they will need the approval of Carl Icahn, the Lions Gate’s largest shareholder.The article notes: “Any agreement to buy Los Angeles-based MGM would have to be approved by Carl Icahn, Lions Gate’s largest shareholder. [...]

Spyglass Entertainment and MGM are reportedly in talks to complete a deal before the studio’s fifth debt waiver expires in mid-July. A third of MGM’s debt is now in the hands of a small group of hedge funds who are looking for a pre-packaged bankruptcy in which they would take control. Having agreed to this [...]