News for Jul. 02, 2004

Time Warner may bid for MGM

7/02/04, 11:40 am EST - Xoanon

NEW YORK (CNN/Money) - Time Warner Inc. is in preliminary talks to buy legendary film studio MGM, a move that could spark a bidding war with Sony Corp., a person familiar with the situation told CNNfn Thursday. But Sony, which has been negotiating to acquire MGM since late April for roughly $5 billion, is still very much in the running, people close to the negotiations told Reuters. [More]