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Indian business tycoon targets Hollywood acquisition

Sahara India Pariwar, the Indian conglomerate controlled by billionaire Subrata Roy, is in discussions to purchase Metro-Goldwyn-Mayer, the debt-ridden Hollywood studio.
 
Media reports say Sahara has made a $2 billion bid for the studio, which has debts of around $3.7 billion, amassed when it was taken over in 2005 by private equity groups and Sony.
 
According to the Financial Times, which cited a person familiar with the matter, Sahara would receive an equity stake in the company for taking on the debt.
 
MGM, which owns the James Bond film rights, is currently in the hands of its lenders after it became unable to service its debt last year.
 
Fellow Indian billionaire Anil Ambani, who controls Reliance Big Entertainment, has been linked to the purchase of the famed studio.
 
Sahara Indian Pariwar is one of the biggest players in the Bollywood film industry, and the acquisition of MGM would significantly increase the links between the Indian film sector and Hollywood.

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