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Rupert Murdoch and his News Corp operation are set to run a ruler over the struggling Hollywood movie studio Metro-Goldwyn-Mayer (MGM) the maker of the James bond movies.

Also taking a look is the cash strapped Sony who last year lost the distribution rights to the James Bond movies.

The Hollywood Reporter citing people with knowledge of the situation said that the studio’s finances and their level of interest will depend on price.

Burdened by about over $4 billion in debt, Creditors for the struggling movie house are hoping to get at least $2 billion, from a single buyer or by selling the assets separately, Bloomberg reported.

Last week MGM said it was exploring a potential sale of the company as lenders extended a forbearance until January 31. It said its other options include operating as a stand-alone entity or forming strategic partnerships.

A source familiar with the matter told Reuters the company was expected to open its books to interested parties in a process that could take months.

The studio, which has enlisted a restructuring specialist to help turn it around, faces debt obligations of $3.7 billion stemming from its 2005 buyout, plus payments on a $250 million revolving credit facility due April 2010.

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