Dying MGM Taking Bids

MGM Studios, once the stuff of Hollywood legend, is on the chopping block: The first bids from potential buyers are expected in the next few weeks, reports Variety. MGM made only one film this year—the poorly-performing Fame—and, possibly even sadder, its future projects include the grim-sounding Hot Tub Time Machine.

Company assets—including the famous logo, United Artists operations, franchise rights to James Bond and Pink Panther, half-ownership in the upcoming Hobbit movies, and a 4,000-title library—are valued at between $1.5 billion and $2 billion. That’s just half of what Warner Brothers claims to have made at the box office this year alone, Gawker notes. Time Warner is speculated to be a likely bidder, along with News Corp., Lionsgate, and Liberty Media.
(More MGM stories.)