Sony and Time Warner Fight For MGM

Both Time Warner and Sony Corp. are reported to be considering a buyout of film studio MGM. Sony’s bid, backed by financiers Providence Equity Partners and Texas Pacific Group, is for $5 billion and would give the company ownership of some highly import film, and video game, properties including James Bond, Rocky, RoboCop and the Pink Panther. A successful takeover would also see Sony Pictures become the largest single market share holder at the US box office, based on figures for 2003 and 2004. Source: Ample