The Times (London)
April 22, 2004, Thursday
Here we go again: It’s sale time
IT IS NOT known why Kirk Kerkorian is selling his stake in MGM
studios. The billionaire, who holds the stake through his investment
firm Tracinda Corp, also owns the MGM Grand casino and resort in Las
Vegas, as well as other properties.
Mr Kerkorian, the son of Armenian immigrants, who left home at the
age of nine to sell newspapers on street corners, has bought and sold
MGM and its various parts several times over the past few decades. He
first bought the studio in 1969, later selling it to Ted Turner, the
media mogul. He last bought it in 1996.
Mr Kerkorian has said in the past that he prefers stock to cash so it
is not known whether he will be willing to accept an all-cash offer.