Hollywood studio MGM explores selling itself for around $6B
$18 for movie popcorn... ~$6B for the whole movie company. MGM Studios is reportedly trying to sell itself by betting on its #1 star: Content. We'd already heard that the movie studio was considering selling off just the latest James Bond movie earlier this year — now it's throwing in every prop on the set. Here are some of MGM's most entertaining money-making assets:
- Iconic franchises: James Bond, Rocky, Pink Panther
- Legendary Films: Terminator, Silence of the Lambs
- Quality TV: The Handmaid's Tale
- Surprise: MGM Studios is also part-owner of Survivor
This feels like a rerun... Because it is. In 2018, MGM's CEO tried to sell the studio for $6B to Apple — but then MGM fired him. Now with theaters closed, MGM's making the same exact move. If this sequel works, a $6B MGM sale would end happily with a payoff for its owners Comcast, Sony, and a cast of private equity firms. For context, Disney bought Marvel and Lucasfilm for $4B each in 2009 and 2012.
In the Streaming Wars, content has never been more king... Unlike MGM's first attempt to sell itself two years ago, you now face a dozen streaming options (HBO Max, Hulu, Disney+... we could go on). To catch up to Netflix's deep content library, a newer streamer could spend years starting from scratch by producing new characters, shows, and movies — or acquire a lineup of beloved franchises. Looking at you, Apple TV+ (and Apple's got the cash).