First-Round Bids for MGM Due Friday

NEW YORK (Reuters) – Time Warner Inc (TWX.N), Lions Gate Entertainment (LGF.N) and private equity firms are among those weighing potential offers for the debt-ridden MGM studio, but no bids have come in yet, several sources familiar with the matter said.

First-round bids are due this Friday, and the 12 companies that signed MGM’s confidentiality agreements to look at the business are expected to make offers, the sources said.

Liberty Media (LINTA.O), CBS Corp (CBS.N), AT&T Inc (T.N), News Corp (NWSA.O) and independent studio Summit Entertainment, which owns the “Twilight” film franchise, are also among those that have expressed interest, sources said.

Private equity firms also signed non-disclosure agreements, two of the sources said. Those firms could be allowed to team up with media companies and make joint bids for the studio in later rounds, one of the sources said.

(Reporting by Anupreeta Das and Jui Chakravorty, additional reporting by Sue Zeidler in Los Angeles; Editing by Derek Caney)