By Lynn Cowan
Privately held MGM Holdings Inc., the parent company of film
studio Metro-Goldwyn-Mayer Studios Inc., is readying for an IPO
using Goldman Sachs Group Inc. (GS) as a lead manager.
The timing and structure of the deal is unclear. Late Tuesday,
MGM Holdings announced it had submitted a draft registration
statement on a confidential basis to the Securities and Exchange
Commission for "a potential initial public offering" of its Class A
common stock.
Under the JOBS Act signed into law earlier this year, companies
that have less than $1 billion in annual revenue can submit their
preliminary prospectuses confidentially to the SEC. The paperwork
can remain unseen by the public until 21 days before a company
launches its so-called road show to market its IPO to
investors.
Companies that don't qualify for confidential filings still have
to post their preliminary prospectuses publicly on the SEC's
website from the moment they file.
A spokeswoman for MGM didn't immediately return a phone call
seeking comment.
Write to Lynn Cowan at lynn.cowan@dowjones.com