Bollywood Firm Makes Bid To Enter Hollywood

The Indian filmmaker Reliance Big Entertainment has entered into the bidding war over debt-ridden Metro-Goldwyn-Mayer Inc.

India is one of the world's most prolific film producers, yet it has had little overseas success. By acquiring a troubled Hollywood gem like MGM, the Indian company, which is owned by billionaire Anil Ambani, would gain direct access to American talent and distribution.

The firm will face heavy competition from nearly 12 other bidders in the auction scheduled for Friday. Time Warner Inc. (NYSE: TWX) is said to have the edge in the auction, due to its large cash reserves and ownership of the Warner Brothers film library.