Kerkorian around the prowl for purchases

Kirk Kerkorian, who bought and offered MGM three occasions, is around the prowl for purchases within the entertainment business, based on a study within the Wall Street Journal Sunday evening, an improvement that may give a major wild card towards the already complex and fast-altering landscape. Within an interview using the paper, Jay Rakow, an professional at Kerkorian's investment firm Tracinda Corp., stated the billionaire is searching whatsoever kinds of deals including online film distribution, as well as in emerging marketplaces. He stated Kerkorian has hired MGM's former chief operating officer Charles Cohen to mind the search and brought on Raine Group to advise him. There have been no particular targets or dollar figures given. Rakow told the WSJ that Kerkorian's investment could incorporate a technology company, a studio or small-major. Kerkorian last left MGM and also the movie biz in 2005 as he offered the studio for $5 billion to some consortium brought by The new sony Corp. and including Comcast and private equity investors Providence Equity Partners and Texas Off-shore Group. The offer did not go well for that purchasers and debt-laden MGM declared personal bankruptcy this year. It emerged this past year updated and under new management. But because of the much talked about from the equity funds that lost their t shirts and also the many debt holders which were burned, its fall rocked the plus some have to say is one factor behind the reluctance of Wall Street - private equity finance and hedge funds particularly -- to purchase Hollywood. Contact the range newsroom at news@variety.com