Time Warner says buying MGM makes sense at the right price

In brief 'MGM still in financial chaos' news, Time Warner Inc. Chief Executive Officer Jeff Bewkes said that buying the Metro-Goldwyn-Mayer Inc. film studio “could make sense, but only at the right price", reports Business Week.

Time Warner doesn’t need to buy the studio and has walked away from acquiring it before, Bewkes said in response to a question on the company’s earnings conference call today.

It is understood that Time Warner offered $1.7b for MGM in the last round of bidding, and was considered too low by MGM debt holders.

Discuss this news here...