Sony ready to roar with MGM buyout
87-year-old Kirk Kerkorianis poised to sell Metro-Goldwyn-Mayer for the third time in his see-sawinghistory as a studio proprietor after agreeing "in principle" to a $4.84bntakeover bid from a consortium led by Sony. The MGM board will meet to sanctionthe deal tomorrow (Tuesday).By raising its bid overthe weekend to $12 per MGM share (plus the assumption of $1.9bn of debt), Sonyeffectively trumped a rival offer of $11 a share from Time Warner. In addition,Sony ...
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