Movies

Seven companies take part first round of MGM bid

MUMBAI: With a non-binding offer expected soon from Fox, seven companies have placed offers to buy MGM in the first round bidding exercise.


Warner Bros., Lionsgate and Elliott Management -- an investor in producer Relativity Media -- were among those who made first-round offers. It will be learnt next week if they have made it into a second round or not.


All first-round offers, part of a solicitation process launched last month by MGM consultant Moelis & Co., fell short of the $2 billion target for selling the Lion. But with those holding $3.7 billion in MGM debt pressing for a change in ownership, a lesser sum might work out things.


First-round offers were allowed only on the entire studio. It‘s unclear if a la carte bidding on select MGM assets or on film rights to the James Bond franchise would be allowed in the next round.


Lionsgate is considered likely to file a second-round bid for the entire company. So far, the mini-major has offered $1.5 billion to buy the studio, it is learnt.


None of the first-round offers was well detailed, hence the debt holders will be anxious to get a better sense of the seriousness of those bidders.


Lion owners include Providence Equity, TPG Capital, Sony, Comcast, DLJ Merchant and Quadrangle.Companies reviewing MGM financial data have included Fox, Warner Bros., Lionsgate, Liberty Media, AT&T, Summit Entertainment, Reliance Big Entertainment and Elliott.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/26/Untitled-1_15_0.jpg?itok=4UdfBLn6
Inauspicious period for films

The tradition was that no films released during ‘shraaddh’ as it was considered inauspicious. The exhibitors, in such an event, had to feed the cinema halls with either repeat run of old hits or dubbed films from southern India. The tradition has been shelved in the new scheme of things.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/26/sid_0.jpg?itok=QZxP0LRK
Siddharth Roy Kapur elected Film and TV Guild president

MD and CEO of Disney India Siddharth Roy Kapur has been unanimously elected as the president of the Film & Television Producers Guild of India Ltd. at the first meeting of its newly-constituted Guild Council of Management.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/26/Untitled-1.jpg?itok=ycVNpOS_
Deloitte: Indian film industry to touch Rs 23,800 crore by 2020

Can the Indian film industry come up to scale and rival the US and Canadian box offices? Yes, it can. The potential is huge, says a new report on the Indian cinema industry released by Deloitte Touche Tohmatsu India at the Indywood Film Carnival taking place during 24-27 September in Ramoji Film...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/23/Untitled-1_15.jpg?itok=OydbLoDs
Banjo...Out of sync

Banjo is a musical love story of a young man with a mastery over the stringed instrument. The banjo is said to have its origin in Africa. The instrument is seen to be more popular during festivals in India.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/23/Untitled-1_31.jpg?itok=tNwD2dE-
Parched...Dry run at box office

Leena Yadav’s Parched debuted at the Toronto International Film Festival in 2015. Ever since, it has been on the festival circuit extensively till its theatrical release this week.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/23/Untitled-1_16.jpg?itok=k0AywEln
'Visanarai' to represent India at Oscars

The Tamil film ‘Visanarai’ (Interrogation) will represent India at the American Academy of Motion Pictures (Oscars) awards next year. This was announced by the selection committee set up by the Film Federation of India in Hyderabad.

Movies Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/19/dayes-of-tafree_0.jpg?itok=FRqPkA1p
'Days of Tafree' twists 'Chello Divas'

MUMBAI: Gujarati blockbuster Chhello Divas will hit cinemas across the country as Days of Tafree - In Class; Out of Class. The movie is produced by Anand Pandit Motion Pictures and Rashmi Sharma Films and will release it on 23 September.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/19/pink.jpg?itok=gwjjRsJm
Pink: Neither strategy nor reviews helped

Pink, with Shoojit Sircar as the force behind the film, was much hyped. The film also enjoyed a great deal of media and critics support. However, all this hype did not help the film as the response on the opening day remained tepid with a business of about Rs 4.2 crore.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/19/Untitled-1_3.jpg?itok=6-8l1L-3
Sony Max2 initiates Double Trouble film festival

The Double role formula has wooed the Indian audience ever since and has been a major success in Bollywood. This September Sony Max2 attempts to ride high on this formula by doubling up the entertainment quotient for its viewers with Double Trouble film festival starting from 19 September until 23...

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories