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India's Reliance Entertainment is likely to bid for US film group Metro-Goldwyn-Mayer (MGM), the Hollywood studio behind classics such as James Bond and the Pink Panther, a report said Friday.
The Economic Times, citing an unnamed person familiar with the deal, said Reliance could be one of a dozen potential bidders in the running for MGM, which has been put up for sale.
The revered studio was bought by a group of investors, including private equity groups, in 2004 for around five billion dollars. It faces crushing debt repayment obligations stemming from the buyout and has been put on the block.
MGM has a massive film library, which boasts around 4,000 titles and more than 10,000 television episodes.
Reliance Entertainment, part of the Reliance business empire controlled by billionaire Anil Ambani, has invested in Steven Spielberg's DreamWorks Studios, but is looking to increase its presence in Hollywood, the newspaper said.
The Indian group is behind current Bollywood box-office hits "3 Idiots," the highest grossing Bollywood movie of all time, and Paa ("Father"), starring Indian superstar Amitabh Bachchan.
