Time Warner Inc. (TWX:NYSE)

The board of directors of Time Warner Inc. declared a regular quarterly cash dividend of $0.1875 per share on its common stock payable in cash on December 9, 2009, to stockholders of record at the close of business on November 27, 2009. The per share amount of this dividend is the same as the per share amounts of the cash dividends paid on the common stock in previous quarters this year.

Metro-Goldwyn-Mayer Inc. is looking for a buyer. The company announced on November 13, 2009 that it has begun to explore strategic options including a potential sale of the company. In a statement, MGM also said that, its lenders have agreed to grant the company another respite until January 31 from interest payments on nearly $4 billion in debt. It is also learnt that, financial adviser Moelis & Co. is expected to send out non-disclosure agreements and detailed financial information to interested parties by early next week. Potential buyers include, Time Warner Inc. and News Corp. On November 12, 2009 Lions Gate Entertainment Corp’s Vice Chairman Michael Burns, also said his company was interested in taking a look. “They have fantastic franchises like James Bond; they have half of `The Hobbit.' Of course it's interesting to us,” Burns said.

It is being rumored that Metro-Goldwyn-Mayer, Inc. (MGM) is heading for another potential garage sale. Several sources said that they expected that MGM would essentially be auctioned off within the next few weeks. This would mean that a company like Time Warner Inc. could acquire the MGM-UA library while another company might acquire the logo, and yet another deal could be made for United Artists Entertainment, LLC. Sources speculated that Kirk Kerkorian, who has already acquired and sold MGM twice, might acquire the logo once again. The various shareholders of MGM, including several private equity companies, have already written down their $5 billion acquisition, which closed in 2004. Any sort of fire sale would require approval of a two-thirds majority of the bondholders, and a couple of the bondholders insist they have not been contacted as yet. Some sources believe a pre-packaged bankruptcy is still an option, and there is still an expectation that Time-Warner might make a last eleventh hour bid. Neither Cooper nor MGM would comment.