MGM clock ticking fast
Time running out for Lion
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A company rep described the meeting as "informational." It appears the board didn't reach a decision on either offer.
The Lion's board has been expected to greenlight Time Warner's offer imminently.
The giant media conglom is widely viewed as the favorite. However, no deal would be official -- or announced -- until after Time Warner's board meets to approve the acquisition, likely sometime next week.
Antsy investors lobbed questions at Time Warner chief financial officer Wayne Pace at a media conference in Washington, D.C., early in the day. "Is it next week?" demanded one Wall Streeter.
Pace said it would be "inappropriate" to comment. "It's unfortunate that the press gets out there sometimes a long time before it should," he added.
As investors wait for Time Warner and MGM to tie the knot, some cautioned Sony's bid is still reputed to be higher than Time Warner's. Both are in cash.
One fund manager also recalled the surprise ending in a battle for Warner Music last year. Time Warner had a deal all but sewn up with EMI. Time Warner's board met -- and announced a sale to Edgar Bronfman Jr.
