Movie studio MGM Holdings is looking for a strategic partner for its Epix cable channel, to help grow the business and gain access to more programming and distribution, according to two people familiar with the situation. The search comes less than two years after MGM paid nearly a billion dollars for control of Epix.
MGM Chairman Kevin Ulrich is working informally with boutique investment bank LionTree in the effort. The studio has approached a couple of entertainment companies to gauge their interest in partnering with Epix, which is likely to mean taking a stake in the channel, the people said. A person close to MGM emphasized the company wants to retain control of Epix.