^^MGM still owns a rather hefty library of movies and tv shows-the profits generated by sells are the only thing that's kept the studio aloat during recent years. They have several MGM branded cable channels operating around the world, and they are partners in the thistv
network, a service set up to feed programming to local broadcasters; digital subchannels. The bulk of their schedule is MGM owned movies.
I hope Lionsgate comes out of this alright. Mergers of late haven't always turned out to be the best thing for the most solvent of the joining entities...And has anything ICHAN has done, benefited any company he's gotten his mitts on?
Today, Lionsgate Entertainment filed Form 8-K paperwork with the SEC that it has entered into a "Material Definitive Agreement" by means of a letter with Carl Icahn saying they "have agreed to work together on certain acquisition opportunities beginning on July 9, 2010 and ending on July 19, 2010, and the Company agreed to refrain from specified actions during that period." Icahn has been leading a hostile takeover of the movie/TV studio and now owns almost 40% of Lionsgate which he'd like to buy for his son Brett to run. However, Lionsgate insiders tell us that this is, at best, a temporary halt to the long battle for the studio. Lionsgate recently stepped up merger talks with MGM.
Damn...wish my daddy could buy me a studio. Yep, I'm hatin' on him.