MGM Holdings, Studio Behind ‘James Bond,’ Explores a Sale

The studio has contemplated a sale at various points over the past few years, but potential suitors have previously balked at the price MGM was seeking. MGM is hopeful the current process will generate interest beyond Hollywood’s traditional players, from international media companies, private-equity investors and blank-check companies, one of the people familiar with the matter said.

MGM’s biggest shareholder, New York hedge fund Anchorage Capital Group, has come under pressure in recent years from weak performance and defecting clients, and its illiquid investment in MGM has become a larger percentage of its hedge fund as it shrinks.

MGM’s exploration of a possible sale comes amid a bidding war for content to fill a new wave of streaming-video services. MGM’s library of titles could make it an attractive target, its investors say.

The film studio has produced or distributed movies and TV shows including the “Rocky” franchise, “The Handmaid’s Tale” and “Vikings.” It has struck deals to license movies from its library, including “Silence of the Lambs,” “Dances with Wolves,” “Rain Man” and “The Terminator.”

—Joe Flint contributed to this article.

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