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Sahara India to buy Hollywood’s MGM studio

Sahara India to buy Hollywood's MGM studio

The Lucknow-based Sahara India Parivar has made a $2 billion bid to buy the debt of the struggling Hollywood studio Metro-Goldwyn-Mayer (MGM) which has liabilities to the tune of $4 billion. Both sides have confirmed the development, but the deal is stili being worked out.

If the Sahara-MGM deal comes through, this would be the second major Indian foray into Hollywood after Anil Ambani’s Reliance Big Entertainment pumped in $825 million last July to rescue Stephen Spielberg’s Dreamworks from Paramount Pictures.

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