Metro-Goldwyn-Mayer Inc. (MGM), which has been struggling to keep itself afloat for over a year now under the weight of massive debts to multiple lenders, announced on Thursday that the company "intends to commence pre-packaged Chapter 11 cases under the U.S. Bankruptcy Code." MGM has begun to solicit votes from its lenders to convert the debt into equity following its emergence from Chapter 11 and restructure the company with Spyglass Entertainment partners Gary Barber and Richard Birnbaum as its new chairmen/CEOs.
The big question for movie fans is: How does MGM filing Chapter 11 affect plans for The Hobbit and James Bond 23?
Next Showing:
Link | Posted 10/9/2010 by BrentJS
Peter Jackson | Sam Mendes | The Hobbit | James Bond 23...
The big question for movie fans is: How does MGM filing Chapter 11 affect plans for The Hobbit and James Bond 23?
Next Showing:
Link | Posted 10/9/2010 by BrentJS
Peter Jackson | Sam Mendes | The Hobbit | James Bond 23...
- 10/9/2010
- by BrentJS Sprecher
- Reelzchannel.com
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