MUMBAI: US Electronics goods manufacturer giant Sony Corporation has asked for a two-week extension on their exclusive acquisition talks with Metro-Goldwyn-Mayer Inc. (MGM).

The parties have been negotiating for around three weeks on a deal, on Sony Corp's film studio acquiring MGM, valued at $5 billion. The talks were set to expire on Thursday 27 May.

Sony's ambitious bid is backed by investment companies including Texas Pacific Group and Providence Equity Partners. The joint bid is to acquire the famed studio with its 4,000-title strong film library. Time Warner Inc. and NBC Universal have also been ogling MGM though they are yet to come out in the open to confirm this. Sony's bid values MGM at just over $12 per share. But media reports have quoted industry sources as saying the quoted sum was not a major roadblock.

As analysed by Indiantelevision.com earlier, if Sony succeeds acquiring MGM, that would put ZEE TV and their collaboration with MGM, the ZEE MGM channel, in a tough spot. What would complicate the matter for ZEE is, Sony Corp's Indian network Sony Entertainment Television is their competitor in India.