MGM needs cash to deal with a $3.7 billion that comes due in 2012. As the studio hasn’t had many hits of late, that may be a bit difficult unless they can find a Golden Goose or a just somebody with money.
Needless to say, MGM will turn into a DreamWorks wannabe if this deal comes through. DreamWorks just closed its deal with Reliance so that Steven Spielberg can keep face with an influx of more than $1 billion in production funds.
MGM had no comment on the story, but executives were reportedly headed to Bombay for a flurry of meetings.
But they still need the cash.