By Jamie Barrie M GM Holdings which was founded back in 2005 and later the same year acquired MGM for $4.8 billion USD. However, the company is most likely better known as the movie studio behind the James Bond, Rocky and Mad Max film franchises. MGM is currently in discussions to acquire control of the premium entertainment network Epix, which is headquartered in New York City, for more than $1 billion. The Beverly Hills, California- based MGM would be buying out the other two Studio 3 Partners, LLC stakeholders in the deal.
Viacom Inc, which own 50 percent of Studio 3 Partners and Lions Gate Entertainment Corp, which has a 31 percent of the business, in a deal could be announced and inked very soon.
However, all parties are keeping the terms of the agreement very private at this time. The deal would boost MGM’s flourishing television business by adding the premium cable network saying they had more plans for investing in even more content in MGM’s recent full- year earnings report to investors. The finalization of a deal between MGM, Viacom Inc and Lions Gate Entertainment Corp would end months of speculation about the future of Epix since Lions Gate’s $4.4 billion acquisition of premium programmer Starz, which is an American premium cable and satellite television network offering programming which features theatrically released motion pictures and first- run original television series, had the fate of the entertainment network on the minds of investors.
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MARCH 2017 • SPOTLIGHT ON BUSINESS MAGAZINE
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