Lenders agreed to extend the period for debt repayment for a fifth time to allow the troubled studio to arrange its affairs prior to a sale – or more likely now, a pre-packaged bankruptcy. Until the studio’s future is decided it is unlikely work on Bond 23 will progress.
This additional extension means creditors will waive payments until July 14th on the $3.7 billion debt.
The company is currently looking at restructuring options rather than a sale, due to the low bids put in earlier this year. Of the potential buyers only Time Warner retains its interest in MGM.
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