MGM, the studio Apple tried to buy in 2018, is on sale again

Between late 2017 and early 2018, various rumors pointed to Apple’s interest in taking over MGM, the company behind the 007 franchise. The talks quickly came to a halt when then-MGM CEO Gary Barber he was fired for sitting down to negotiate with Apple the sale of the company, valued at the time at $ 5.5 billion.

According to the Wall Street Journal, MGM has returned to the market to find a buyer. Part of the reason can be found in the failure of the Apple and Netflix with MGM to premiere the latest 007 movie on their streaming services, in exchange for some 650-700 million dollars.

In Wall Street Journal we can read:

MGM Holdings Inc., the film studio behind the James Bond franchise, is exploring a sale, according to people familiar with the matter, betting that its library of content will be attractive to companies pursuing the growth of streaming video.

Nearby MGM has turned to investment banks Morgan Stanley MS 5.69% and LionTree LLC and started a formal sale process, the people said. The company has a market value of about $ 5.5 billion, based on privately traded stocks and including debt, some people said.

When Gary Barber was fired as CEO of MGM, the chairman of the MGM shareholders’ meeting, Kevin Ulrich, who caused Barber’s firing, claimed that could sell MGM for more than $ 8 billion in two to three years. But since the date, the company’s shares have dropped slightly in the market, making it impossible for it to get the money it claimed it would get.

At the moment we do not know if Apple’s intention to buy MGM can be resumed again. If so, Apple TV + will expand a large number of exclusive titles to its platform, the Bond saga being the best known of all.