‘James Bond’ Studio, MGM, May Be Sold
MGM Holdings Inc. is looking to sell its library of content, according to a recent report by the Wall Street Journal. The movie studio behind the incredibly successful James Bond franchise is exploring a sale, hoping that companies with stakes in streaming video will be interested in securing MGM's titles.
The company has an alleged net worth of $5.5 billion, based on privately traded shares and including debt, according to WSJ. Apparently, talks of a sale have existed for the past few years, but MGM's price was too high to attract a buyer. But now, with the rise of streaming platforms-turned-movie studios, as well as private equity investors, MGM might have a better shot at selling its content.
MGM has produced and distributed a number of high profile series in the past, including the historical drama Vikings and Hulu’s The Handmaid's Tale. The studio has also made licensing deals with streaming companies over titles including Silence of the Lambs, Dances with Wolves, Rain Man, and The Terminator. MGM is also the owner of premium TV channel and streaming service Epix.
The release of No Time to Die was supposed to increase MGM's value and publicity in 2020, enough that it could lead to a sale of their content library. But after Covid-19 hit, the film's premiere was pushed from April 2020 to November 2020 and then to April 2021. This dip in 2020 revenue has reportedly caused MGM to focus more on its video streaming content, where viewers can watch from home. If MGM can produce a slate of highly popular original series in 2021, then a lucrative sale could potentially be in their future.
Gallery — Every James Bond Movie Ranked From Worst to Best: