Reliance Entertainment likely to bid for MGM Studio news
Reliance Entertainment owned by Anil Ambani is likely to bid for the historic film studio Metro-Goldwyn-Mayer (MGM). MGM is the owner of a library with more than 4,000 titles, including classics such as the Pink Panther and James Bond movies.
Reliance Entertainment has already tied up with Steven Spielberg’s DreamWorks Studio and is looking to increase its presence further in Hollywood. It has also struck a series of deals with stars including Hollywood stars Brad Pitt, Jim Carrey, Julia Roberts and George Clooney to develop their films.
Twelve potential bidders with background in media and movie-making have signed non-disclosure agreements for MGM, according to a Reuters report. Banking sources said Reliance Entertainment is among them. The other serious bidders in the fray are Fox Studios, the movie-making arm of Rupert Murdoch’s News Corp, Lions Gate Entertainment and Warner Brothers.
