Skyfall success raises MGM IPO hopes
Box office success of new Bond film could be the savior Hollywood studio MGM has been looking for
Hollywood studio MGM hopes to use the success of Skyfall, its latest James Bond film, as a platform to launch an initial public offering. Skyfall has enjoyed the best opening weekend for a James Bond film, generating $88m at the US box office to bring its worldwide total to $435m. For MGM, an IPO would end a torrid few years, during which it came close to collapse after filing for bankruptcy protection. According to the Financial Times, MGM has appointed advisers to explore a return to the public markets. “People close to the process say it is looking at an IPO next year,” says the paper.
Your smart start to 2016 – Get 6 free issues of The Week magazine.