Reliance ADAG to buyout MGM studios
Anil Ambani’s Reliance ADAG is in talks with Metro-Goldwyn-Mayer exploring an arrangement to buyout equity investment. Reliance’s bankers at UBS were said to be trying to come up with a workable deal structure.
Former Yahoo Inc and Warner Bros Entertainment CEO Terry Semel and News Corp have also expressed interest in MGM.
Recently, DreamWorks of Spielberg reached a deal with Reliance ADAG for $1.2 billion to produce movies as an independent studio.