Hainan Airlines MGM Play: Soros Calling on Hollywood?

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First it was the Japanese, and now it seems the Chinese are showing an interest in Hollywood. Given Japan’s failure in running two of Tinseltown’s top studios, it’s unclear to me why Hainan Airlines (Shanghai: 600221) of all companies is now interested in buying the perennially struggling MGM studios. But that’s exactly what the China Daily is reporting, following  an unsuccessful bid for the studio last year. Never mind that the airline has no experience running a studio. It’s decided to bring in a partner, Enlight Pictures, a Beijing movie studio no one has ever heard of, to handle that part of the equation. I suspect that Hainan Airlines backer George Soros may be at least in part behind this bizarre bid, perhaps seeing value where no one else does. If that’s the case, I would give this deal at least a dark horse chance at success. Stranger things have happened.

Bottom line: Hainan Airlines’ strange bid for problem-plagued MGM studios could stand a small chance of success, giving China a minute foothold in Hollywood

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