The Wall Street Journal reports that MGM is actively looking to sell off its studio, with the hope being that they can attract companies keen on expanding their reach in the world of streaming.
The company, which has already turned to investment banks Morgan Stanley and LionTree LLC to begin the formal sale process, has a market value of $5.5 billion. They hope to attract a buyer willing to pay that much money for franchises like James Bond, Candyman, Rocky, RoboCop, The Handmaid’s Tale, Stargate, and countless others.
As the site explains in its report, “MGM is hopeful the current process will generate interest beyond Hollywood’s traditional players, from international media companies, private-equity investors and blank-check companies, one of the people familiar with the matter said.”
A streamer could fill its service with thousands of hours of content by acquiring MGM, while the potential that some of the properties listed above have is unlimited.
James Bond, for example, could see a streamer like Apple TV+ or Netflix add all 25 films to its platform, while expanding the series as an exclusive with spinoffs on TV shows. Who will come forward to consider making this purchase in the trying times caused by COVID remains to be seen.