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Troubled MGM heading for the auction block?

mgm-uaMetro-Goldwyn-Mayer Pictures, the once-fabled Hollywood major that has faced troubled times since the late 1960s, passing through various hands and ending up as little more than a production company with a famous name, is said to be on the way to a sale, as reported by Variety. This marks the second time in just a few years that the mini-studio has faced closure, with Sony and Warners both previously interested in the vast library of catalog titles, including its United Artists division’s James Bond and Pink Panther series. MGM has seen poor returns this year on duds such as the Fame remake, and Tom Cruise’s top position at UA has yet to yield any long-term results. Sources suggest Warners may buy the library, to compliment the pre-1986 MGM films it already owns, while Sony may purchase United Artists to keep hold of the 007 franchise, and the famous Leo the Lion logo split and sold elsewhere.

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