Movie studio behind 'James Bond' franchise explores sale

FILE PHOTO: A film trailer for the 25th instalment in the James Bond series entitled “No Time to Die” is displayed at Piccadilly Circus in London, December 4, 2019. REUTERS/Lisi Niesner

(Reuters) – U.S. movie studio MGM Holdings is exploring a sale, a person familiar with the matter told Reuters on Monday.

The movie studio behind the “James Bond” franchise has tapped investment banks Morgan Stanley and LionTree LLC and started a formal sale process, the source said, asking not to be identified.

The company has a market value of around $5.5 billion, based on privately traded shares and including debt, the source added. The development was reported earlier by the Wall Street Journal.

MGM Holdings said it had no comment.

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