Kirk Kerkorian to hold 90% of MGM after buying the 25% held by partner
Article Abstract:
Seven Network Ltd. sold its 25% share of Metro-Goldwyn-Mayer Inc. to billionaire investor Kirk Kerkorian for $389 million. Kerkorian's share of MGM is now 90%. Since Kerkorian's Tracinda Corp. and Seven Network bought MGM in 1996, the studio has struggled with few film hits and a lackluster 1997 public offering. Seven Network said that economic conditions in its region prompted it to conclude that "our capital could be much better employed in Australia."
Comment:
Seven Network sold its 25% share of MGM to Kirk Kerkorian
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Dream Works reaches tentative accord with Playa Vista on headquarters site
Article Abstract:
Playa Vista a partnership led by Goldman, Sachs and Company and Morgan Stanley Dean Witter and Company has finally reached an agreement with DreamWorks SKG after over three years of negotiations. DreamWorks will build new headquarters and studio facilities at the West Los Angeles 470-acre plot at an esimated cost of $200 million dollars, with $47 million paid to Playa Vista.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
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