Reliance Big Pictures to bid for MGM Film Studio

Posted on 17 January 2010 by BMMBoxer

After kick starting the year with the success of 3 Idiots and Paa, Reliance Big Pictures (an Anil Ambani Enterprise) is set to make all the right moves in 2010. Anil Ambani has showed interest in bidding for Metro-Goldwyn-Meyer Hollywood studio, the Hollywood studio which owns the James Bond franchise.

Anil Ambani already owns a controlling stake in Steven Spielberg’s DreamWorks studio and has partnered with Hollywood stars including Brad Pitt, Jim Carrey, Julia Roberts and George Clooney to promote their films.

Industry sources close to Anil Ambani confirmed his interest in acquiring MGM and said it would help him to achieve his ambition to become the world’s most powerful film mogul.

The MGM acquisition would empower Reliance Big Pictures and bring one of Hollywood’s greatest film libraries under their control and will certainly ensure box office hits over the next three years. MGM is slotted to release a new James Bond film in 2011, starring Daniel Craig, and two Hobbit films starring Sir Ian McKellen.

MGM, on the other side needs to strike an effective deal to avoid potential bankruptcy later this year when a series of debts must be repaid. The current estimated bid is expected to be beyond $2 million.

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