US movie studio MGM Holdings is exploring a sale, a person familiar with the matter told Reuters on Monday.
The movie studio behind the James Bond franchise has tapped investment banks Morgan Stanley and LionTree LLC and started a formal sale process, the source said, asking not to be identified.
The company has a market value of around $5.5 billion, based on privately traded shares and including debt, the source added. The development was reported on.wsj.com/37DWKEq earlier by the Wall Street Journal.
MGM Holdings said it had no comment.
According to Variety, the studio believes that its library of content would be of good value to companies that want to tap into the streaming sector.
The studio boasts a library of over 4,000 titles that includes huge franchises like Rocky and The Hobbit and hit TV shows like The Handmaid’s Tale and Vikings.
