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Lions Gate 'Interested' In MGM?

Thursday, 12 Nov 2009 | 6:08 PM ET

After hours a published report suggested that Lions Gate may be in talks to acquire MGM.

“It’s all about price,” Lions Gate Vice Chairman Michael Burns said today according to Bloomberg. “I think we’ll know sooner rather than later.”

Oscar Trade?
Discussing Oscar buzz and the impact of the movie business, with Michael Burns, Lionsgate vice chairman.

During his appearance on Fast Money Burns set the record straight.

He explained the chatter stems from "a new rumor that MGM may be up for sale."

Of course, that rumor gets floated around Hollywood every other week. However, if that indeed is the case, "of course we'd be interested," Burns told us.

"They have an enormous film library, as well as fantastic franchises such as James Bond. Of course it would be interesting to us."

When asked to put a value on the deal or whether Lions Gate would buy the entire company or just pieces of MGM he said, "It's too soon to know."

What's the bottom line?

"We're big fans of hanging around the basket, so maybe."

Find out what else Michael Burns revealed to the traders. Watch the video above.


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Trader disclosure: On November 12th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Finerman's Firm Owns (CSCO), (MCD), (MSFT), (WMT), (TGT), (M); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Is Short (USO); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Is Short (XRT), (IJR), (IWM), (MDY), (SPY), (UNG); Najarian Owns (GE) Calls; Najarian Owns (INTC), Is Short (INTC) Calls; Najarian Owns (JWN) Calls; Najarian Owns (MCD), Is Short (MCD) Calls; Najarian Owns (QLGC) Calls; Najarian Owns (RIMM) Call Spread; Najarian Owns (UUP) Calls; Najarian Owns (YHOO), (YHOO) Puts; Symour Owns (AAPL), (BAC), (EEM), (FXI), (POT); Seygem Asset Management Owns (BUD)

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