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$6.9 million value, as of December 11, 1996, for the 52 film
titles in the EBD film library with confirmed physical materials.
v. Market Approach
Mr. Wagner did not rely on a market approach to value the
EBD film library because of the difficulty in finding comparable
film libraries. Nonetheless, he reviewed several film and
television libraries that were sold in the 1990s: (1) In 1990,
MCA, Inc., sold 3,100 feature film titles and 14,000 TV episodes
to Matsushita Electric for $6.1 billion ($356,725 per title); (2)
in 1993, New Line sold 200 features to Turner Broadcasting for
$500 million ($2.5 million per title); (3) in 1995, Matsushita
Electric sold 3,200 features and 14,000 TV episodes to Seagram
Co., Ltd., for $5.7 billion ($331,395 per title); (4) in 1996,
Credit Lyonnais sold 1,500 features and 4,100 TV episodes to Mr.
Kerkorian for $1.3 billion ($232,143 per title); and (5) in 1997,
Orion/Samuel Goldwyn sold 2,000 features to MGM for $573 million
($286,500 per title).135 On the basis of this information, Mr.
Wagner concluded that the approximately $140,000 price per title
that he determined for the 65 EBD film titles “appears to be not
unreasonable.”
135 The film library that New Line sold to Turner
Broadcasting included the film titles: “Teenage Mutant Ninja
Turtles”, “Misery”, and “City Slickers”. The film library that
Orion/Samuel Goldwyn sold to MGM included the Academy Award-
winning film titles: “Amadeus”, “Platoon”, “Dances With Wolves”,
and “The Silence of the Lambs”.
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