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Time Warner bids for MGM
LOS ANGELES,
JULY 1.
A bidding war has broken out for Metro-Goldwyn-Mayer, with Time Warner Inc. making a nearly $5 billion offer for the venerable Hollywood studio, according to newspaper reports Thursday. The New York Times and The Wall Street Journal reported that Time Warner has made a preliminary offer that rivals overtures from Sony Corp. A spokeswoman for MGM said the company had no comment on the reports.
AP
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