Sony-led group to acquire MGM for US$3 billion

Entertainment is rocking - Japan is rocking and Sony of Japan is leading the way. "A consortium led by Sony Corp. has agreed in principle to acquire famed Hollywood studio Metro-Goldwyn-Mayer Inc. for nearly US$3 billion, MGM said." This is major, since it means the farewell to an old symbol of the entertainment world, a further consolidation and a move by Sony to grow this future type of business.