2Nd update: MGM is quite the statement on the results of the creditor vote:
"Metro-Goldwyn-Mayer Inc.., ' MGM'") today announced that secured lenders vote overwhelmingly approved the bidding process project reorganization plan ("plan"). " MGM is now moving quickly to implement this plan, which will be considerably reduce its indebtedness and to put the company in a strong position to execute its strategy commerciale.MGM is grateful for support for lenders.?
Updated : creditors have now officially approved the plan restructuring puts the Spyglass leaders at the top of the MGM studio gets moving. A statement will be published momentarily.Now pleased commence.Si MGM is not a Distributor, the next James Bond payment is a jump ball. Wait for Sony (who distributed Casino Royale to hors de combat with Warner Bros and Fox, but look at Paramount emerge in the thick of it because of the close relationship that the studio developed with Spyglass since the company became established Star Trek and the tracking is in the works).
The NEWS... It is now day shutdown for creditors MGM to vote through a reorganization that would Spyglass partners Roger Birnbaum and Gary Barber at the top of a slimmed down MGM works as a company but throw its distribution and marketing units. I heard that creditors vote through this plan, probably less than an hour. The plan includes a prepackaged bankruptcy and conversion of crushing debt into equity $ 4 billion. I am not sure that this will be the roaring lion once again, but at least he will have the opportunity of making movies again to enhance the value of the library.Square ground stop after Mary Parent developed a promising slate of pictures.Distribution of cutting and marketing will be easy to reduce operating costs, as well as a move of headquarters Century opulent City, including the cost of an alternative fortune.La would have been to adopt an approach by Carl Icahn, who is trying to separately resume Lionsgate.Bien brass Lionsgate embraced the benefit of a merger, the trial that the indie filed against Icahn certainly has not to its cause.Restez to the listening.
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