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Merrill Lynch Looks To Revise MGM Deal After Tom Cruise's Business Partner's Exit

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First Posted: 08-25-08 08:07 AM   |   Updated: 09-25-08 05:12 AM

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Read More: Merrill Lynch, Merrill Lynch MGM, Paula Wagner, Tom Cruise, Business News
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New York Post:

Merrill Lynch is examining its contract with United Artists as the beleaguered bank looks to revise the deal on more favorable terms, The Post has learned.

Merrill's goal is to see if studio parent Metro-Goldwyn-Mayer violated any terms by axing Paula Wagner - superstar Tom Cruises' movie partner - as UA's CEO.

Meanwhile, as a safeguard against Merrill's maneuvering, MGM has retained Goldman Sachs as a strategic adviser to raise equity for film financing as well as other alternatives, including a potential sale of the famed studio, according to three people involved in or close to the situation.

Read the whole story: New York Post

Merrill Lynch is examining its contract with United Artists as the beleaguered bank looks to revise the deal on more favorable terms, The Post has learned. Merrill's goal is to see if studio parent M...
Merrill Lynch is examining its contract with United Artists as the beleaguered bank looks to revise the deal on more favorable terms, The Post has learned. Merrill's goal is to see if studio parent M...
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