We've Got Hollywood Covered

MGM in ‘Very Early’ Buyout Talks With Indian Conglomerate

Talks are very preliminary for a more than $2 billion sale of the once venerable studio

Indian conglomerate Sahara India Pariwar is in exploratory talks to acquire MGM for more than $2 billion, the Wall Street Journal reported, citing a person familiar with the matter.

Talks were at an early stage, and MGM and its stakeholders haven't yet shown substantial interest in a deal with Sahara, a Lucknow-based company. The discussions come as creditors prepare to take over MGM in a streamlined bankruptcy next month and turn management over to Gary Barber and Roger Birnbaum, co-heads of Spyglass Entertainment.

Read more at the Wall Street Journal.