Time Warner withdraws MGM bid

[greatamerica2003]

Since the Six Flags Corporation used to be owned by Time Warner, and we have an MGM liscensed ride in the park (Stargate) I found this relevant:

Time Warner withdrew its bid for Hollywood film studio Metro-Goldwyn-Mayer on September 13, 2004, after sources said a rival bidder group headlined by Japan's Sony Corp, raised its offer to nearly $5 billion. Time Warner said in a statement that while MGM was a valuable asset, it could not agree on a price 'that would have represented a prudent use of (Time Warner's) growing financial capacity.

I find it interesting that MGM may finally move back to its original location. In the 1980's, Sony purchased the MGM Culver City Studios (the actual real estate) and a different investor purchased the MGM business side, leaving MGM without an actual studio. If this deal goes through, MGM will be "back home" so to speak.

[Binks Drake]

Huh, Well, that's interesting. Time Warner and Six Flags are still on good terms so if it went throught i'm guessing we could have seen some interesting license proporty in one of the SF parks.

[greatamerica2003]

I wouldn't say "good" terms, I would say "decent"

[greatamerica2003]

Well, now it appears Sony will be purchasing MGM.