Hindi
Anil Ambani eyes lion’s share in MGM
MUMBAI: Reliance Entertainment is planning to bid for the debt ridden Metro-Goldwyn-Mayer (MGM), a move that would take the Reliance ADAG company to the centre of Hollywood.
Reliance Entertainment, which already has a joint venture partnership with Spielberg‘s DreamWorks for production of movies, is among the 12 companies that have signed MGM‘s confidentiality agreements to make bid offers.
The others in the roster include News Corp, Time Warner, Liberty Media, AT&T Inc, Lions Gate and independent studio Summit Entertainment, apart from some private equity firms who are also in the fray to put in a bid for the legendry studio.
A Reliance spokesperson, however, refused to comment. “We do not comment on speculation,” the spokesperson said.
Entertainment-focused investment firm Qualia Capital has made a proposal to restructure MGM, which would involve converting some of its debt to equity and put in enough money to keep it running.
Private equity firms also signed non-disclosure agreements, it is understood. Those firms could be allowed to team with media companies and make joint bids for the studio in later rounds.
MGM skipped an interest payment last year on its $3.7bn in debt when it failed to raise the capital required to support an ambitious production schedule. Its lenders have granted it forbearance from interest payments until the end of this month.
The studio amassed much of this debt when it was taken over in a leveraged buy-out in 2005 by private equity firms TPG, Providence Equity Partners, DLJ Merchant Banking Partners and Quadrangle Group and media companies Sony and Comcast.
The first-round bids are non-binding which means that bidders are not legally bound to follow up on their offer and are expected to help MGM assess the level of interest among potential buyers.
First-round offers are expected to come in between $1.5 to $2 billion, well below the $3.7 billion debt that the studio owes.
If the bids come in too low, MGM‘s creditors could decide to keep the company and restructure it, possibly filing for a pre-packaged Chapter 11 bankruptcy protection.
MGM boasts of a library with 4,000 titles, including classics such as the Pink Panther and James Bond movies and more recent ones such as Legally Blonde.
Hindi
Dhurandhar the revenge storms past Rs 1,000 crore in a week, rewrites box office records
Aditya Dhar’s spy thriller sets fastest run to Rs 1,000 crore with record-breaking weekday hold
MUMBAI: The box office has a new juggernaut—and it is moving at breakneck speed. Dhurandhar the revenge has smashed past the Rs 1,000 crore mark worldwide in just a week, clocking a staggering Rs 1,088 crore and resetting the rules of the blockbuster game.
Backed by Jio Studios and B62 Studios, and directed by Aditya Dhar, the spy action sequel opened to the biggest weekend ever for an Indian film globally—and then refused to slow down. Unlike typical tentpole releases that taper off after Sunday, this one powered through the weekdays with rare muscle, posting Rs 64 crore on Monday, Rs 58 crore on Tuesday, Rs 49 crore on Wednesday and Rs 53 crore on Thursday.
The numbers stack up to a formidable first-week haul. India collections stand at Rs 690 crore nett and Rs 814 crore gross, while overseas markets have chipped in Rs 274 crore, taking the worldwide total to Rs 1,088 crore in just eight days.
The film’s opening weekend alone delivered Rs 466 crore, laying the foundation for what is now being billed as the fastest climb to the Rs 1,000 crore club in Indian cinema. Every single day of its first week has set fresh benchmarks, from the highest opening weekend to the strongest weekday hold—metrics that typically separate hits from phenomena.
A sequel to the earlier hit Dhurandhar, the film has not just built on its predecessor’s momentum but obliterated previous records, emerging as the biggest global blockbuster run by an Indian film to date.
At this pace, the film is not merely riding a wave—it is creating one.
