MGM prolongs drama [Variety]

Variety reports that MGM is likely to ask its debtholders for another repayment extension next week when the current extension expires. Its fifth extension was granted on May 13th and runs through until July 14th. The article goes on to note:

“During recent weeks, MGM’s believed to have met informally with top execs from Lionsgate, Spyglass Entertainment and Summit Entertainment as possible partners who could run the studio the studio and bring in production funds.”

One of the biggest causalities of the continuing uncertainty over MGM’s future is Bond 23, which was put on hold “indefinitely” back in April. Until such time as MGM is in a position to either finance the production of new movies, or dispose of assets, that situation in unlikely to change.

Read “MGM prolongs drama” at Variety

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