European Parliament Passes Law to Restrict Cash Payments to €10,000
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
MGM Studios to be Bought by Sony
World | September 14, 2004, Tuesday // 00:00
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Hollywood's last major independent studio, Metro-Goldwyn-Mayer, says it has agreed in principle to be bought by Japan's Sony Corporation. The Sony offer is reported to be USD 5B, over half in cash and the remainder the assumption of MGM debts. MGM classics include Ben Hur, Gone with the Wind and The Wizard of Oz; it also has the rights to James Bond. Sony will reportedly pay USD 12 per MGM share, a total of USD 2.93B, and take on about USD 2B of MGM debt.
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