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Anil Ambani may bid for MGM to expand Hollywood footprint
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NEW DELHI: Anil Ambani-controlled Reliance Entertainment is likely to put in a bid for the iconic film studio Metro-Goldwyn-Mayer, or MGM, as it seeks to increase its presence in Hollywood beyond its existing tie-up with Steven Spielberg’s DreamWorks Studio, a person privy to the development told .

MGM, the owner of a library with more than 4,000 titles, including classics such as the Pink Panther and James Bond movies and more recent ones such as Legally Blonde, a series of comedy films, has been put on the block by its lenders, a consortium of over 100 financiers led by JPMorgan.

Twelve potential bidders with background in media and movie-making have signed non-disclosure agreements, according to a Reuters report. Banking sources said Reliance Entertainment is among them.

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