Metro-Goldwyn-Mayer has sold most of its international television channels to help generate cash to buy investor Carl Icahn's 25% stake in the studio and to focus on being a pure content company ahead of its planned initial public offering.
Beverly Hills-based MGM announced Wednesday that it had sold branded networks in Spain, Turkey, Israel, Benelux (Belgium, the Netherlands and Luxembourg), Poland, India and Southeast Asia, along with a pan-European and Asian channel, to Chellomedia, an international media company that has long worked with MGM on its overseas networks.
