<![CDATA[Some news arrives faster than others. Two updates follow up the Broccoli family involvement with the new offer for MGM.
Bloomberg News has amened their original report to include a denial from EON production, they say that they were ever involved with the Sahara India Pariwar bid.
EON Productions, producer of the James Bond movies, said it isn’t involved in Sahara India Pariwar’s bid for Metro-Goldwyn-Mayer Inc., the debt-laden Los Angeles film studio.
“EON Productions tonight confirmed they have never had any contact with Sahara India Pariwar and are in no way involved in the Sahara India Pariwar bid for MGM,” spokeswoman Stephanie Wenborn said in a statement.
Quite fortuitous since MGM seems to be committed to their current course of action. At lease according to a newly leaked internal memo obtained by Deadline.com.
We recognize that throughout this restructuring process, there has been a great deal of speculation about the Company’s future in the media and elsewhere which can be very distracting. We appreciate the focus, hard work and dedication you all have demonstrated for the last year. We can assure you we are working to bring this process to a conclusion as quickly and thoughtfully as possible. However, the process is still evolving and we appreciate your understanding that there are not a lot of definitive answers at this stage.
In the latest evolution of this process, we have entered into a nonbinding letter of intent with Spyglass Entertainment’s Gary Barber and Roger Birnbaum to become the co-chairmen and co-chief executive officers of MGM upon consummation of a restructuring. We believe this development is a constructive step toward concluding this process. The Company will be working with Messrs. Barber and Birnbaum over the coming weeks to pursue the proposed arrangement so you may notice some new faces in the building. If, and when, there are meaningful, definitive updates from this process we will let you all know.
Discuss that at the DCinB Classic Bond Forum]]>