Possible IPO for MGM

LOS ANGELES: In a brief statement to the U.S. Securities and Exchange Commission, MGM, which emerged from bankruptcy in 2010, has submitted a draft registration for a possible IPO.

The studio’s current owners are a variety of investors who converted the studio’s debt into equity as part of a bankruptcy plan in 2010. An IPO would allow those investors to shed their holdings. According to Bloomberg, J.P. Morgan and Goldman Sachs have been tapped to handle the potential IPO. 

MGM has not indicated when a potential IPO could take place or how much it is looking to raise. The studio does have some high-profile releases coming up, notably the new James Bond film Skyfall and Peter Jackson’s The Hobbit.