MGM is one of the oldest movie studios in Hollywood. After almost 100 years of existence MGM has acquired a rather large catalogue of movies. Now according to Comic Book Resources the old studio is considering selling off its large library of films. The studio has been struggling because of the pandemic, and as a result Morgan Stanley and LionTree LLC suggested that MGM start selling its movies.
MGM currently owns thousands of movies including The Wizard of Oz, Silence of the Lambs, Dances with Wolves, Rain Main, the Rocky movies, The Hobbit movies, and the James Bond movie franchise. MGM also owns a countless number of popular TV shows.
The idea for MGM to sell its catalogue came about earlier this year according to the New York Post. The studio is hoping to sell to someone interested in expanding their streaming services.
MGM’s latest James Bond movie No Time to Die was initially supposed to come out in April of 2020, but it was delayed until November. Unfortunately the pandemic caused the movie’s release date to be delayed once again. Apple apparently has expressed interest in purchasing No Time to Die, but as of right now no sale has been finalized.