MGM says "Skyfall", "Hobbit" helped 2012 profit more than triple

LOS ANGELES, March 18 Mon Mar 18, 2013 4:49pm EDT

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LOS ANGELES, March 18 (Reuters) - MGM, the storied movie studio that exited bankruptcy protection in 2010, posted a more than a three-fold increase in 2012 net income, the company said on Monday.

Blockbuster hits like "Skyfall" and "The Hobbit" had bolstered its profit last year to $129.2 million, from $35.2 million in 2011, it said in a statement.

Sources have told Reuters the studio behind the James Bond franchise is considering an initial public offering.