TITLE

Sony-MGM Is Definitive

AUTHOR(S)
Farrel, Sony
PUB. DATE
September 2004
SOURCE
Multichannel News;9/27/2004, Vol. 25 Issue 39, p3
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports that Sony Corp. last Thursday has reached a definitive agreement to buy Metro- Goldwyn-Mayer Inc. (MGM), and Comcast Corp., will be an equity participant. Sony said it will invest $300 million in the venture, as will Comcast. Sony said it expects the deal valued at about $4.9 billion, including the assumption of $2 billion in MGM debt, to close in mid-2005. The final deal comes after reports of squabbling between its private-equity partners. With the investment, Comcast is expected to receive a 20% equity interest in Sony/ MGM.
ACCESSION #
14550515

 

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