MGM declined to comment.
SPACS, special purpose acquisition vehicles, are empty shells put together by bankers and industry experts that raise cash, go public and then merge with private companies — which then become public without having to go through a traditional IPO process. A few SPACS recently have said they are targeting media and entertainment for acquisitions.
The WSJ said the studio has hired Morgan Stanley and LionTree to explore a sale, and that it has a market value of around $5.5 billion, based on privately traded shares and including debt. It has about $2.3 billion in long-term debt. MGM several years ago held exploratory talks with Apple, about a range of scenarios, from a streaming output deal to a full acquisition. More recently, it talked with the tech giant and other streamers about a one-year license to the latest Bond film,
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