MORGAN CREEK, CAPELLA UNITE IN BID FOR MGM.Byline: Michael Strou Bloomberg Business News Morgan Creek Productions and German real estate investor A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. Rolf Deyhle's Capella Films plan to offer more than $1.1 billion for MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. Inc. in a combined bid, executives familiar with the bidding said. The combination increases Morgan Creek Chairman James Robinson's chances of winning an auction for the Hollywood studio. The Netherlands' PolyGram NV and Rupert Murdoch's News Corp. each bid between $1 billion and $1.3 billion, the executives said. Investor Peter Ackerman Peter Ackerman is the founding chair of the International Center on Nonviolent Conflict and the managing director of Rockport Capital Incorporated. He was born on November 6 1946 in New York City, New York. As an undergraduate he attended Colgate University. , formerly a junk bond junk bond, a bond that involves greater than usual risk as an investment and pays a relatively high rate of interest, typically issued by a company lacking an established earnings history or having a questionable credit history. trader with financier Michael Milken Michael Milken As an executive at Drexel Burnham Lambert Inc. during the 1980s, Milken used high-yield junk bonds for financing and corporate takeovers. While his personal wealth was enormous, he spent two years in prison after pleading guilty to charges of securities fraud. , is helping to finance Capella's bid, the executives said. In addition, Morgan Creek is backed by Japan's Fujisankei Communications and South Korean industrial conglomerate Daewoo Corp., they said. ``Morgan Creek clearly now has the resources to do the deal, as do the other two bidders,'' said Morgan Rector, a senior vice president for Imperial Bank, an entertainment industry lender. ``The question is who is willing to pay the most.'' |
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