No Wonder The Movies Freakin' Suck This Year

Options
The Prime Minister
The Prime Minister Members Posts: 2,883 ✭✭✭✭✭
edited April 2010 in Lights, Camera, Action!
MGM Studios Given Fourth Debt Extension

Metro-Goldwyn-Mayer Inc.'s creditors agreed to extend the troubled film studio's debt deadline on Wednesday as it explores strategic options, like a sale of the company.

The extension, the fourth such move in the past few months, allows MGM to put off payments on its nearly $4 billion debt load until May 14, according to Susie Arons, an outside spokeswoman for company.

MGM's management is expected to present a plan to its major creditors on Thursday that would allow the company to remain a standalone entity, according to two people familiar with the matter. The plan could involve a restructuring in bankruptcy.


http://online.wsj.com/article/SB10001424052702303338304575155980917092228.html?mod=googlenews_wsj

Comments