Variety reports Sony buy-out talks with MGM have stalled, new bidders invited to the table

Variety has reported on the latest "will they, won't they" shenanigans of Sony's attempts to buy MGM.

The last news from the negotiating table tipped the deal was nearly completed, with Sony shelling out $5billion for MGM and its back catalogue - including all the James Bond films. Now talks are at a standstill and other bidders are being welcomed back to the table according to Variety's latest commentary (June 21st 2004).

"[Sony] recently in exclusive talks to acquire MGM, including the Lion's impressive film library, for an estimated $5 billion, though the deal-making has come to a standstill, and MGM has opened up the table to other companies, such as NBC and Time Warner."

Time Warner were reported to have attempted an MGM merger back in December 2003.

Thanks to `Bobby` for the alert.

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