MUMBAI: Metro-Goldwyn-Mayer Inc. (MGM) would delay its annual meeting
until late June to continue considering various strategic alternatives.
The move signals that Sony Corp.'s $5 billion bid for a potential
acquisition of MGM is catching momentum.
MGM on Wednesday 5 May informed that it was postponning
the annual meeting to June 29 from May 12 to give its board additional
time to review all of the company's options.
Reuter reports suggest that, other big players including
Time Warner Inc., General Electric and NBC could also make a bid.
At the same time, Sony executives have reportedly insisted that MGM
should deal with them exclusively for at least a short period of time.
Another sticking issue was the conditions under which Sony would be
given access to proprietary data from MGM. This includes the DVD distribution
sector where both the companies compete with each other.
