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Unable to strike a deal, MGM said recently it would pay a one-time special dividend of $8 per share, which would net a $1 " It also produces the popular "James Bond" series of films MGM has struggled with its feature film slate in recent years, producing occasional hits such as "Legally Blonde" and "Barbershop Late Wednesday, MGM reaffirmed its plans to have its board vote as early as next week on management's recommendation to pay the dividend A representative from Providence Equity Partners did not return a call seeking comment Sony in Talks to Buy MGM Apr 22, 7:56 AM EST <EM>Associated Press</EM> Sony Corp Shares of Sony fell 28 cents to close at $41 Earlier reports had speculated MGM would defer the dividend in view of the Sony offer 95 on news of the deal, which was first reported Wednesday afternoon by The Wall Street Journal The stock gained another 5 cents in after hours trading 75 Wednesday on the New York Stock Exchange in a cash deal valued at around $5 billion, a source familiar with the talks said Wednesday 4 billion windfall for Kerkorian If the deal goes through, it will reunite MGM with the backlot it once owned and where historic films such as "Gone With the Wind" were shot Representatives from Sony Pictures, MGM and Texas Pacific Group declined to comment It also produces television shows, including "Stargate SG1" and "She Spies," and operates cable channels around the world Sony would likely fold MGM into its Sony Pictures Entertainment division 10, to close at $19 The company, which is 74 percent owned by billionaire Kirk Kerkorian, made an unsuccessful bid for Universal Studios last year The company is the only major studio without its own soundstages or permanent sets Sony would join with private equity firms Texas Pacific Group and Providence Equity Partners to buy the legendary studio, the source said Sony is likely interested in acquiring MGM's library of more than 4,200 titles, including the "Pink Panther" series It is not known what would become of the MGM and United Artists labels is in talks to acquire film studio Metro-Goldwyn-Mayer Inc MGM sold its backlot to Sony years ago News of the discussions sent MGM shares surging nearly 12 percent, or $2 For nearly two years, MGM has been seeking to become larger either through an acquisition or merger The 31-year-old actress has also been undergoing therapy and completed 480 hours of community service at the City of Hope Medical Center in Duarte Ryder's lawyer, Shepard Kopp, said outside court that the judge plans to review the case later and consider reducing her felony convictions to misdemeanors " She has made those payments Fox ordered Ryder to return to court May 26 for a six-month review and said he would decide then if she needs continued probation supervision She was also ordered to pay $6,355 in restitution to the store and $1,000 in restitution to the court Ryder was convicted in a highly publicized trial last year of stealing several thousand dollars worth of merchandise from Saks Fifth Avenue store in Beverly Hills in 2001 Winona Ryder Wins Praise From Judge Dec 15, 4:49 PM EST Actress Winona Ryder was commended by a judge Monday for abiding by the rules of her probation in a shoplifting case He said her probation report had been very positive Ryder, who began her film career as a teenager in 1986, earned Academy Award nominations for her roles in "Little Women" and the "The Age of Innocence "And there's an indication that things are going well," he said "I want to compliment you on your behavior on probation," Superior Court Judge Elden Fox told the actress, who did not speak during the hearing The judge placed her on three years probation a year ago and fined her $2,700 |
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