J.P. Morgan, BofA to Market MGM Loan

J.P. Morgan Chase & Co. and Bank of America Corp. next week will begin seeking investors for as much as $2.4 billion of financing to back a plan by Metro-Goldwyn-Mayer Inc. to pay a one-time dividend to shareholders, people familiar with the transaction said.

MGM, the Los Angeles movie studio controlled by billionaire Kirk Kerkorian, said March 15 that it was considering paying what it called a significant dividend.

MGM shares rose 12 cents to $17.50 on the NYSE.