Movie studio behind 'James Bond' franchise explores sale

·1 min read
Trailer for a James Bond film "No Time to Die" is displayed in London

(Reuters) - U.S. movie studio MGM Holdings is exploring a sale, a person familiar with the matter told Reuters on Monday.

The movie studio behind the "James Bond" franchise has tapped investment banks Morgan Stanley and LionTree LLC and started a formal sale process, the source said, asking not to be identified.

The company has a market value of around $5.5 billion, based on privately traded shares and including debt, the source added. The development was reported https://on.wsj.com/37DWKEq earlier by the Wall Street Journal.

MGM Holdings said it had no comment.

(Reporting by Kanishka Singh in Bengaluru and Krystal Hu in New York; Editing by Maju Samuel)