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FRONT PAGE  |  11/23/2017
WEDNESDAY, NOV 3, 2010
MGM studio files bankruptcy, eyes lender takeover

NEW YORK (Reuters) ‚Äď Metro-Goldwyn-Mayer Studios Inc, one of Hollywood's most storied film studios, filed for bankruptcy protection on Wednesday after struggling for years to reduce its debt load.

The filing follows last week's vote by MGM creditors to put founders of Spyglass Entertainment at the company's helm, dealing a blow to Lions Gate Entertainment Corp's own merger proposal.

The "pre-packaged" plan would allow MGM secured lenders including Credit Suisse Group AG and JPMorgan Chase & Co to swap more than $4 billion of debt for most of the equity in a reorganized company.

MGM controls the James Bond franchise, and has also produced or released many of Hollywood's best-known films, including "The Wizard of Oz." ...


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news.yahoo.com

Can Christians Watch Movies?
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