Television

Sony Corp. acquires MGM Studios for $5 billion

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/01/11/Sony%20Corp.jpg?itok=31HdvOvq

MUMBAI: It has been a long-running drama and it is Japanese electronics giant Sony Corp that has come out the winner at the end of it. Sony has reached an in-principle agreement to buy out the last of Hollywood's independent film majors Metro-Goldwyn-Mayer Studios Inc. (MGM) in a $ 4.9 billion cash and debt deal.



Also coming along with MGM as part of the purchase deal is its subsidiary United Artists, the studio founded in 1919 by Charlie Chaplin, Mary Pickford, Douglas Fairbanks and DW Griffith. MGM bought UA in 1981 and has used the brand in recent years as a boutique studio, releasing low-budget, independent films.



With this, Sony hopes to have an overriding position in the competition for film sales and standards for next-generation DVDs. MGM, which is an 80-year-old studio, said that the unit of Japanese electronics giant Sony Corp. would be joined by Providence Equity Partners Inc., Texas Pacific Group and DLJ Merchant Banking Partners, according to a media report.



Time Warner, which was also in the race for MGM, lost out to Sony as it formed an association with the two US investment companies and raised the purchase price. Sony will now be looking at maximizing its opportunities and hopes to create the world's largest film library of about 7,600 titles, comprising 3,500 movies from Sony and about 4,100 from MGM, said a media report.



MGM owns the James Bond movie franchise and hence after this takeover, Sony will acquire the rights to all "007" films. The company will pay $12 cash per share for MGM, which is controlled by billionaire investor Kirk Kerkorian. The sale would mark the third time Kerkorian, who owns 74 per cent of MGM's outstanding shares, has sold MGM.



The tab to Sony is about $ 2.94 billion as sale price and around 1.9 billion dollars in debt.



In addition, Sony and its partners in the deal put down a $ 150-million deposit, which is reportedly non-refundable, clinching five months of intense and secret negotiations.



The procuring of MGM was in tandem with the company CEO Nobuyuki Idei's vision of creating synergies between Sony's consumer electronics products and music, movies and games.



A few estimates that are doing rounds in the international media reveal that after this deal, the Sony group will control about 40 per cent of all movies ever produced by Hollywood.



SONY ANNOUNCES DISTRIBUTION DEAL WITH COMCAST



Sony also announced that it has reached a distribution deal with Comcast, the largest cable TV provider in the US, that would allow video on demand and new cable channels featuring Sony and MGM content.



Another agreement that the two reached was that Comcast would lead a new joint venture with Sony that would use its films to create numerous movie-based channels.



Some media reports say that this deal would reduce Hollywood's antipathy toward cable, and may persuade subscribers to buy additional programming services. This is the first major VOD deal between a cable operator and a Hollywood studio.



Media reports say that Comcast is looking at investing approximately $300 million in return for equity in the company that would be created to own and manage the MGM acquisition.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/The-Bourne-Legacy.jpg?itok=bBiJiS4E
Third Kind, Bourne To Kill, Species III & Predestination to be shown on Movies Now 2

MUMBAI: We are arriving at the end of 2016 and to celebrate the year that has gone by, Movies Now 2 is set to sway its viewers with some swag and style. The channel has lined up a series of Hollywood movies filled with action, sci-fi and fantasy. Audience can witness some of the most amazing unique...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/Ravi%20Shankar%20Prasad.jpg?itok=Ylk_C8Bk
Cashless villages 'Mumkin Hai' with new channel & Rs 5-cr campaign

MUMBAI: The government has launched 'DigiShala', a Doordarshan free DTH channel, to promote cashless transactions in India -- the first step in online payment education through the electronic media. The channel will be brought through GSAT15 (DD Direct DTH), 93.5 degree East, Receive frequency:...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/Ravi-Ankam.jpg?itok=7xX9r-rW
V6 challenges suspension; BARC to place facts before court

MUMBAI: V6 News, from the stable of the Telugu channel popular across Telangana and Andhra Pradesh, also wants to challenge Broadcast Audience Research Council India (BARC India) after the latter suspended its ratings review for some weeks along with other two channels on 24 November, 2016.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/Awaaz-Se-Bada-Na-Koi.jpg?itok=mpG5iXSc
&TV's innovative affair with The Voice India S2

MUMBAI: Have you ever seen a promo of a new show on television which is actually a video but not a video. Confused? ZEEL’s year-old Hindi general entertainment channel &TV has come up with the unique campaign ‘Awaaz Se Bada Na Koi’ to promote the second season of 'The Voice.'

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/KHATMAL-E-ISHQ.jpg?itok=ZbKRdoJt
SAB TV revenue grew nine-fold under Sony umbrella

NEW DELHI: Sab TV, which claims to be the country’s sole channel beaming only comedy series, claims to have grown its revenue nine times since it came under the Sony fold.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/Prashant-Chothani.jpg?itok=z79wKqCX
Travelxp to launch new Tamil channel; 4K feed before Feb

MUMBAI: Giving competition to Discovery Channel, Prashant Chothani-promoted travel and lifestyle channel, travelxp, is all set to take southern India by storm with the launch of its new channel in Tamil. The channel's soft launch is scheduled for 13 December. It's availability on various...

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/09/farhan-arjit.jpg?itok=1WwGNibs
Flo Rida, Arijit Singh, Farhan to enthrall at Aamby Valley City

MUMBAI: Absolut Enchanted Valley Carnival (EVC), India’s largest multi genre, camping and music festival is back with its 4th Edition at Aamby Valley City, Lonavala between 17 & 18 December. The carnival like its previous editions will be a mix of international and home-grown artistes. This...

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/09/Haunting.jpg?itok=04TOpxwK
NBC-Universal buys 'paranormal' series from Bomanbridge

MUMBAI/ SINGAPORE: Bomanbridge Media, a Singapore-based content distribution and production agency, announced a series of paranormal series programme sales to NBC-Universal’s Syfy and Celestial.

Television Production House Fiction
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/09/Dayanidhi-Maran-800x800.jpg?itok=89LDOdFX
Sun TV security clearance review sought; two channels' cancellation stayed

NEW DELHI: A review has been sought by the information and broadcasting ministry from the home ministry about security clearance to Sun TV Network Ltd in view of the amended guidelines of that ministry. Union minister M Venkaiah Naidu told the Parliament yesterday that no reply had been received so...

Television TV Channels Regional

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories