The Sahara India Pariwar has confirmed its bid to rescue debt-laden MGM, the fabled Hollywood studio behind classics such as James Bond and Gone With The Wind, according to the Hollywood Reporter on Monday.
Sahara is in talks to acquire the company in a bid of around 2 billion dollars.
According to the Bloomberg financial news agency, the Sahara bid includes an element of financial support by the Brocolli family, the legendary producers of the James Bond movies and co-owners with MGM of the James Bond franchise. The report said the Brocolli family would receive an undisclosed equity stake in MGM if the bid succeeds.
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