According to the New York Post, MGM, the independent studio behind the James Bond franchise, is in advanced talks to sell the company to a Chinese buyer, a senior source said.
MGM, which also houses the archives of President Trump’s “The Apprentice,” has been looking for a buyer or an IPO.
The firm is also a one-third owner — with Lionsgate and Paramount — of Epix, the premium movie and TV service.
The name of the China-based entity involved in the talks, perhaps newly formed to make the deal, could not immediately be learned. It is, however, the latest in a string of China investors looking for deals in Hollywood.
The film studio is owned by a slew of hedge funds including Kevin Ulrich’s Anchorage Capital Group and Highland Capital. Other investors include Daniel Loeb’s Third Point.
MGM emerged from a complex bankruptcy in 2010 whereby debtholders were able to convert their holdings into equity. The firm was loaded with $3.7 billion of debt at the time of its bankruptcy.
A deal with the Chinese entity could become complicated. Chinese nationals are having a hard time getting visas to enter the US, sources told The Post. The Beijing government is also cracking down on how much cash can leave the country.