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Finance

Is Entertainment Company MGM Holdings Publicly Traded?

MGM Holdings, Inc. is the holding company for the television and film studios that brought the world such classics as Singin’ In The Rain and Gone With The Wind. The entertainment colossus known for its roaring lion logo might soon become a part of the Amazon empire.

MGM (Metro Goldwyn Mayer) is a nearly 100-year-old company that has seen and brought about many of the key changes in how we consume entertainment. Marcus Loew led the formation of MGM in 1924 through a merger between Metro Pictures Corp., Goldwyn Pictures, and Louis B. Mayer Productions.

MGM Holdings Inc. is privately held and traded, which means that there are shareholders of company stock, but there aren’t any shares available to the public. A privately traded company doesn’t need to undergo an IPO or issue shares on a publicly traded stock exchange.

Is Amazon buying MGM?

In December 2020, The Wall Street Journal reported that MGM Holdings Inc. was exploring the possibility of a sale. The largest MGM shareholder at that time, Anchorage Capital Group, had been feeling pressure due to weak performance in recent years.

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The company was in talks with Morgan Stanley and LionTree LLC during its process of preparing for a sale. On May 24, news broke that Amazon.com was the likely buyer of MGM in an agreement that could possibly be finalized as soon as this week, according to The Wall Street Journal.

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The prices of MGM stock jumped from about $105 in mid-May to about $140–$150 on May 24 after news of the possible sale to Amazon emerged.

Source: MGM Studios Facebook, Amazon Facebook

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View more information: https://marketrealist.com/p/is-mgm-publicly-traded/

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