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MGM Enlists Advisors to Explore Sale (Report)

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hollywoodreporter.com

MGM appears to be getting closer to formally exploring a sale. The Hollywood giant has enlisted Morgan Stanley and LionTree LCC to serve as advisors in the process, The Wall Street Journal reported, citing unnamed sources.

A studio spokesperson declined to comment on the article. MGM's top shareholder is Anchorage Capital, run by former Goldman Sachs exec Kevin Ulrich, who leads the studio’s board of directors.

An Anchorage Capital rep did not respond to a request for comment. The company has gone without a single CEO since March 2018 when Gary Barber, the Spyglass Entertainment founder who joined MGM after it emerged from bankruptcy in 2010, was abruptly fired.

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