MGM Reportedly Exploring Sale – EON’s Partners On The James Bond Franchise

In a report coming from the Wall Street Journal, there are claims that MGM Holdings Inc. aka MGM Studios is now exploring the idea of a sale which includes their massive film library and involvement in the billion-dollar James Bond franchise (working with EON on the films as co-owners of the rights). Mentioning that the company is currently valued at $5.5 billion which could give you an idea of what their asking price might be.

MGM Holdings Inc., the movie studio behind the James Bond franchise, is exploring a sale, according to people familiar with the matter, betting that its library of content will prove attractive to companies pursuing growth in streaming video.

The company has a market value of around $5.5 billion, based on privately traded shares and including debt, some of the people said.

They don’t name potential suitors but allude to their valuation and attractiveness due to streaming services. Netflix and Disney are dealing with a crazy amount of debt which might put them out of the running. While Apple seems like a rational option, they recently backed-out on an offer to buy the exclusive rights to No Time To Die because MGM/EON asked too much, so those deep pockets have a limit. Not every streamer is going to have $5+ billion laying around when the pandemic has hit most entertainment companies hard.

I’m curious what this would mean for EON, who are traditionalists and have a controlling interest in the James Bond franchise and likely wouldn’t be terribly keen on turning their IP into some streaming film franchise. They’d likely want assurances that theatrical would still be on the table or it could turn into a messy legal fight, I would assume any sale would have to need EON’s blessing because the Bond stuff would be the more attractive aspect.

Here is how EON describes their relationship with MGM.

EON Productions Limited and Danjaq LLC are wholly owned and controlled by the Wilson/Broccoli family. Danjaq is the US based company that co-owns, with Metro-Goldwyn-Mayer Studios, the copyright to the existing James Bond films and controls the right to produce future James Bond films.

We’ll have to wait and see to if things will materialize next year.

SOURCE: WALL STREET JOURNAL

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