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MGM Resorts International Message Board

  • nokey99 nokey99 Sep 8, 1999 9:44 AM Flag

    Hey Vegas what do you think

    about Viacom � CBS deal and how it will affect MGM?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • MGM to offer 35,100,000 shares as a follow on offer of MGM SHARES!what does anyone think this will do to the stock price?

    • Tuesday September 14 12:59 PM ET

      MGM
      Regains TV Rights To Old Films

      SANTA MONICA,
      Calif. (Reuters) - Film studio Metro-Goldwyn-Mayer Inc.
      (NYSE:MGM - news) Tuesday said it regained some broadcast
      rights to more than
      800 old MGM movies from Turner
      Broadcasting System Inc., aiding its aggressive new
      management's plans to expand into cable and satellite
      TV.

      The 800 titles include classics such as ``West Side
      Story,'' ''Annie Hall,'' ``Moonstruck,'' ``The Magnificent
      Seven'' and selected films from the ``Rocky'' and
      ``Pink
      Panther'' series.

      ``This transaction underscores the
      new MGM's determination to reclaim control of its
      enormous collection of film assets and the momentum
      underway in shaping
      cable and satellite alternatives,''
      MGM Chief Executive Alex Yemenidjian said in a
      statement.

      The MGM films were licensed to Turner back in 1990
      under previous MGM ownership, and the studio's lack of
      control over their broadcast rights has crippled
      MGM's
      ability to expand. Just this past spring, Yemenidjian and
      others assumed control of the studio and have been
      busily revamping studio operations.

      Under the
      deal, MGM receives exclusive television broadcast
      rights to over 200 titles in the MGM library, and in
      Sept. 2000 it will receive non-exclusive rights
      to
      the remaining 600 titles for broadcast on any MGM
      owned and operated network.

      In exchange,
      Atlanta, Ga.-based Turner extended its rights to broadcast
      the movies on its TV network for two years beyond the
      original expiration dates, and sister
      network Turner
      Classic Movies also enhanced its terms on 600
      titles.

      No money changed hands, an MGM spokesman said.

    • Metro-Goldwyn-Mayer Obtains Broadcast Rights to
      Over 800 of Its Film
      Library Titles From Turner
      Broadcasting Systems, Inc.

      -- Once Exclusive Agreement
      Opens Windows for MGM Networks' Cable & Satellite
      Ventures --

      SANTA MONICA, Calif.--(ENTERTAINMENT
      WIRE)--Sept. 14, 1999-- In a significant move to accelerate
      the creation of MGM-branded cable and
      satellite
      channels, Metro-Goldwyn-Mayer Inc. (NYSE:MGM - news) has
      obtained broadcast rights to more than 800 of its films
      previously licensed to Turner Broadcasting
      System, Inc.
      The transaction was announced today by Alex
      Yemenidjian, MGM Chairman and Chief Executive Officer.


      Under terms of the new agreement, MGM successfully
      renegotiated the reversion of its television rights to 200
      library titles, while also obtaining from
      Turner
      Broadcasting the right to broadcast the remaining 600 MGM Inc.
      films on a non-exclusive basis with Turner on any MGM
      owned-and-operated networks beginning
      as early as September 2000.
      Titles included in the group of 800 are some of MGM's
      most notable films such as ``West Side Story,''
      ``Annie Hall,'' ``Moonstruck,''
      ``The Magnificent
      Seven'' and selected titles from its ``Rocky'' and ``Pink
      Panther'' series. In exchange, Turner Broadcasting gains an
      extension of its rights in the
      titles for all of its
      networks for a period of up to two years past the
      agreement's original expiration. In addition, Turner
      Broadcasting acquires rights for its Turner
      Classic Movies
      cable network for all 600-plus features with increased
      available runs and term.

      In making the
      announcement, Yemenidjian said, ``This transaction underscores
      the new MGM's determination to reclaim control of its
      enormous collection of film
      assets and the momentum
      underway in shaping our cable and satellite network
      alternatives.''

      Metro-Goldwyn-Mayer Inc. is actively
      engaged in the worldwide production and distribution of
      entertainment product, including motion pictures,
      television
      programming, home video, interactive media, music, licensed
      merchandise, a library of more than 4,100 films, and a
      significant television library.

    • $19.7 million over weekend, supplanting The Sixth Sense

    • Things just keep getting better. Two Movies in
      the top ten. Cable deal coming. Bond in November.
      Large short position that is about to get squeezed.
      CBS/Viacom buzz still around.

      I may double up on
      Monday. This thing could be at $30 by month end. Second
      will help this stcok because it will allow for more of
      a float in this stcok which it needs.

    • Looks like stig. will make the whole 30 mil. back
      this weekend.The t. c. affair is still # 5 at 60 mil.
      plus. Im sure the new team has convinced wall st. the
      $$ drain is over, and all the new deals will make
      earnings more predictable and growing.Maybe this will be
      one of the few stks. that goes up into the second.The
      shorts willnt like the stig. ##,s, it will be fun to
      watch the mon. open.The 6th sense is going to do 200
      mil. plus.If stig. does 100 mil.plus the turnaround
      has begun!!h

    • Great news bad timing for the secondary though.

    • I agree the second. will put near term pressure
      on the stk. I hope mr.k put a floor of 18 or so on
      the price.A rts. offer for 30 mil. shs. and a 10 mil.
      sh. second. would have been better near term ,but im
      sure alex.y and mr k. have a reason to do it this
      way.The time frame is late sept. early oct. Hopefully
      stigmata which cost about 30 mil. or so to make ,will have
      a huge open. We got lucky timing since this is a
      hot area at the moment. Good luck on your timing
      getting back in. h

    • the secondary is going to put pressure on this
      stock and the fact that they had to go to the public to
      raise capital dosent sit right with me. You cant say
      that short term this is not going to hurt MGM. The
      time frame for the sale of stock is open and not
      confined to a certain window. Read it in the SEC
      filing.

      Will be back soon.

    • Looking fo rnew customers for fall NFL season. If interested, email at bets@pb.net.

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