MGM insists it's not for sale

Metro-Goldwyn-Mayer Inc, the movie studio controlled by private-equity firms, said its owners aren't trying to sell the company.

Goldman Sachs Group Inc has been hired to explore ways to enhance the company's long-term capital structure, the Los Angeles-based company said in an e-mailed statement. The New York Post reported on Monday that MGM had hired Goldman for advice on financing or a possible sale, citing three unidentified people involved in or close to the situation.

Goldman's hiring comes as MGM, maker of the James Bond movies, is seeking to raise $600 million to make new movies, including a film version of J.R.R. Tolkien's The Hobbit. The company has $3.7 billion in loans that come due in 2012, spokesman Jeff Pryor said.