Fifth debt extension for MGM

Following the news last month that Bond 23 had been out on hold indefinitely, MGM’s lenders are expected to vote in favour of yet another extension to debt repayment in order to give the steering committee breathing space in which to work on the studio’s future.

This fifth repayment extension will be voted on during a meeting between principal lenders on Monday and a broader group of lenders will also be asked to vote electronically. Previous repayment extensions include the delayed repayment of $400 million in interest and principal payments to May 15th.

Meanwhile Time Warner’s CEO Jeff Bewkes said that buying MGM might make sense at the right price. Time Warner submitted the highest bid for the studio in March, and has indicated that it is not interested in partial ownership.

David Leigh founded The James Bond Dossier in 2002. A fan of 007 since the age of 8, he is also author of The Complete Guide to the Drinks of James Bond. You can order a copy here if you don't own it already.

Free monthly newsletter

Get the latest on Bond 26 and other James Bond news by email.

No thanks, I'm not interested in news about 007

Share this article

Like this article? Join our free 007 newsletter and get the latest on Bond 26 and other James Bond news by email.