BUSINESS BRIEFING / ENTERTAINMENT : MGM explores sale of company
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Metro-Goldwyn-Mayer said it was exploring a potential sale of the Hollywood studio, which is struggling to deal with looming debt payments and fashion a long-term business plan.
MGM said its other options included operating as a stand-alone entity or forming strategic partnerships.
The privately held company is expected to open its books to interested parties in the next few days, a person familiar with the matter said.
Potential buyers could include Lions Gate Entertainment Corp., Time Warner Inc. and Viacom Inc.
MGM also said its lenders had again allowed it to postpone making debt payments, this time until Jan. 31.
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