TOKYO - Sony Corp said on Wednesday it was in exclusive negotiations with movie studio Metro-Goldwyn-Mayer Inc on a possible takeover that could bolster its film library but put a dent in its finances.
Sony Vice Chairman Howard Stringer said at the electronics and entertainment conglomerate's annual strategy meeting that it was "preparing an exclusive analysis" of MGM and that it was "four or five days" into a 20-day negotiating period.
Representatives of MGM and Sony have previously declined to comment on reports about such negotiations.
The deal would provide Sony with access to MGM's 4,000-plus film library that includes the James Bond and Pink Panther titles to fulfil Chief Executive Nobuyuki Idei's vision of an interconnected world linking content with Sony's electronics.
http://msnbc.msn.com/id/5012496/Selling of America to foreigners. 'United We Stand to Enrich Board of Directors'.
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