Times are tough, even for giant media companies. Less than two weeks later AMC has announced that it will break down in January, The Wall Street Journal reports that MGM Holdings, Inc. explore what it would look like to sell to the largest bidder. Based on privately traded shares, the company has a market value of $ 5.5 billion, including debt, according to media reports. It’s a lot of money, but it’s money for lunch for Jeff Bezos on Amazon or Netflix, who just seems to be printing his money.
MGM, which co-owns the James Bond franchise, is reporting interest on streaming services eager to obtain permanent rights to their branded properties, such as movie franchises rocky and the Hobbit as well as TV shows like that The maid’s story and Vikings. “The study considered a sale at various points in recent years, but potential suitors previously opposed the price that MGM was looking for. MGM hopes the current process will generate interest beyond traditional Hollywood players, international media companies, private equity investors and blank-check companies, “said a source. WSJ. If MGM can’t sell its entire studio, it could try a split approach: it was reported in October that looking to sell No Time To Die–the latest Bond film, which was originally scheduled to premiere last spring –on Netflix for $ 600 million. (At the time, Variety noted that MGM itself has categorically denied that it ever tried to buy its flagship franchise.)
Ah, like being a “check-free company.” Speaking of blank checks, while Congress considers it appropriate to give Americans who need only $ 600 as part of the current COVID incentive bill, it seems that movie companies, such as the aforementioned AMC, could be lucky. Fortune reports that the bill – which was proposed on Sunday and is currently taking place through the finalization and voting process – includes the Save Our Stages Act, which would “support live music and theater venues, independent cinemas and other cultural institutions.” the $ 15 billion tone.
The current stimulus bill as well contains a proposal from Republican Sen. Thom Tillis of North Carolina, who would be makes transmitting pirated content a crime. If adopted, the illegal transmission could lead to a sentence of up to 10 years in prison.