MGM Comments On Press Reports
01 Setembro 2004 - 7:28PM
PR Newswire (US)
MGM Comments On Press Reports LOS ANGELES, Sept. 1
/PRNewswire-FirstCall/ -- Metro-Goldwyn-Mayer Inc. (NYSE:MGM)
announced today that it is actively continuing its previously
announced consideration of strategic alternatives. However, recent
press reports regarding a possible transaction valuing MGM at a
price as high as $5 billion are inaccurate. MGM assumes no
obligation to update investors or others regarding its
consideration of strategic alternatives or the progress of any
discussions or negotiations that are taking place. (Logo:
http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGO)
Metro-Goldwyn-Mayer Inc. (NYSE:MGM), through its
Metro-Goldwyn-Mayer Studios Inc. subsidiary, is actively engaged in
the worldwide production and distribution of entertainment product,
including motion pictures, television programming, home video,
interactive media, music, and licensed merchandise. The Company
owns the largest modern film library in the world, consisting of
approximately 4,000 titles. Its operating units include MGM
Pictures, United Artists, MGM Television Entertainment, MGM
Networks, MGM Distribution Co., MGM Worldwide Television
Distribution, MGM Home Entertainment, MGM On Stage, MGM Consumer
Products, MGM Music, MGM Interactive and MGM Direct. In addition,
MGM has ownership interests in international television channels
reaching over 100 countries around the globe. For more information
on MGM, visit us online at http://www.mgm.com/. This news release
contains forward-looking statements that are based upon the
Company's estimates and expectations concerning future events and
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those reflected in the
forward-looking statements. These risks and uncertainties include,
among other things, future competitive and market conditions,
whether the Company's products achieve customer acceptance, future
business decisions, and other factors, including those described in
the Company's filings with the Securities and Exchange Commission,
all of which are difficult or impossible to predict accurately and
many of which are beyond the control of MGM. In light of the
significant uncertainties inherent in the forward-looking
information herein, the inclusion of such information should not be
regarded as a representation by the Company or any other person
that the Company's objectives or plans will be realized. This press
release shall not constitute an offer to sell, or the solicitation
of an offer to buy, any securities of the Company. For further
information, please contact: Joseph Fitzgerald of
Metro-Goldwyn-Mayer Inc., +1-310-449-3660.
http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGO
http://photoarchive.ap.org/ DATASOURCE: Metro-Goldwyn-Mayer Inc.
CONTACT: Joseph Fitzgerald of Metro-Goldwyn-Mayer Inc.,
+1-310-449-3660 Web site: http://www.mgm.com/
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