July 30, 2013 / 8:47 PM / in 5 years

Former MGM, CBS execs raise $325 million to buy media assets

July 30 (Reuters) - Two former executives of the MGM movie studio and CBS Entertainment said on Tuesday they raised $325 million to fund acquisitions in the film and media business.

Former MGM Chief Executive Harry Sloan and Jeff Sagansky, a one-time president of CBS Entertainment, said in a statement that they raised the funds via an initial public offering of a special purpose acquisition company, Silver Eagle.

In 2011, the duo raised $190 million for Global Eagle Acquisition, another special purpose company. Earlier this year, it bought airline broadband company Row 44 and 86 percent of Advanced Inflight Alliance AG, which provides movies, TV shows and games for inflight viewing.

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