Due diligence by prospective suitors for MGM is going slowly.
Studio reps don't call the process an auction as there's no certainty any offer for the studio will be accepted. But with nearly 150 debtors pressing for action and a big debt payment looming on Jan. 31, it's hardly helpful that so few companies have begun reviewing MGM financial records.
The records are contained in the online "data room" set up by Lion consultant Moelis & Co., which about a month ago sent out nondisclosure forms to 16 companies. Only four companies have signed off on the documents.
Read more from the Hollywood Reporter [1].
Nutgraf:
Nondisclosure form could be holding up process
Published Date:
Mon, 2009-12-21 07:31