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UNITED TO LAUNCH NEW SF-NAGOYA SERVICE

CHICAGO - United Airlines will begin offering daily, nonstop service between San Francisco International Airport and the new Central Japan International Airport, opening in February 2005 near Nagoya, Japan.

The new service from San Francisco to Nagoya begins June 1, 2005, with service from Nagoya to San Francisco beginning June 3.

Flight 831 will depart San Francisco at 1:30 p.m. and arrive in Nagoya the following day at 4:40 p.m. From Nagoya, flight 830 will depart at 3:40 p.m. and then arrive in San Francisco the same day at 9:25 a.m. Flight timings are subject to change.

United will operate the flights with a Boeing 777 aircraft that seats 258 passengers.
 
CANADIAN FIRM TAKES STAKE IN BANJO

TORONTO - MDC Partners Inc. has acquired a majority stake in the San Francisco-based entertainment marketing firm, Banjo.

Banjo has created campaigns for clients including Saturn Automobiles, Apple Computers, Disney Home Video and Starbucks.

SONY CLOSE TO ACQUIRING MGM

LOS ANGELES - Sony is closing in on a $3 billion deal to acquire famed Hollywood studio Metro-Goldwyn-Mayer Inc. and its library of more than 4,100 titles.

The sale would mark the third time billionaire investor Kirk Kerkorian has sold MGM, one of Hollywood's most storied names and once best known for its musical hits like "Singing in the Rain" and "Meet Me in St. Louis."

Under the proposed deal, Sony has agreed to pay $12 per share for MGM, or about $2.94 billion cash, and assume about $1.9 billion in MGM debt.
 
The sale is also subject to regulatory approval.

For the past two years, MGM has been hunting ways to grow larger. The company made an $11.5 billion all-cash bid for Vivendi Universal Entertainment last year, but lost that contest to NBC.

Time Warner had been seen as the front-runner to acquire MGM going into the weekend. But Sony raised its offer in a move that set off a bidding war that Time Warner concluded it did not want.

MGM has a considerable library of thousands of titles, including the "Rocky" franchise. Analysts have estimated the film library will generate $440 million in cash flow in 2004 by exploiting only 1,500, or about 36%, of its titles on the newer DVD format.

MGM's movie titles can also help Sony strengthen its software business, including games and DVDs. MGM bought United Artists in 1981 and has used the brand in recent years as a boutique studio, releasing low-budget, independent films.

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