SONY MAKES IT OFFICIAL: IT WANTS TO BUY MGM

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SONY MAKES IT OFFICIAL: IT WANTS TO BUY MGM
Wednesday, April 28 2004

Sony has sent a formal letter to MGM detailing its interest in buying the company, published reports said Tuesday. The formal request will allow Sony to pursue additional due diligence to obtain details about the operations of the company. Time Warner is also reportedly considering submitting an offer for the studio. However, in an interview with The New Yorker's Ken Auletta on Tuesday, Viacom President and COO Mel Karmazin indicated that the prices being bandied about to buy the studio are too high and that Viacom is therefore unlikely to submit a bid. Asked what price Viacom would be willing to pay, Karmazin replied that it is "not comparable to the price MGM is looking for."

STALLONE PLANS TO SOCK MGM WITH A LAW SUIT
Tuesday, April 27 2004

Sylvester Stallone is planning to sue MGM for allegedly reneging on an agreement to produce Rocky VI, and then refusing to allow him to shop the script for the film to other studios, the New York Post reported today (Tuesday) in its "Page Six" column. The newspaper also reported that Stallone is furious about MGM's plans to produce a boxing reality show that it is billing as "just like Rocky," while Stallone himself has sold (more)

ADD TIME WARNER TO LIST OF POTENTIAL SUITORS FOR MGM
Friday, April 23 2004
A day after reports appeared indicating that Sony was in talks with MGM about buying the legendary film studio, the New York Post reported today (Friday) that Time Warner has had similar talks with MGM and could team with buyout firm Thomas H. Lee Partners in making its own bid. The Post, citing unnamed sources, observed that it was not clear how serious Time Warner's interest is in pursuing MGM. (more)