Split at MGM

MGM’s management and creditors are reportedly divided over the best plans to take the troubled studio forward.

Hedge funds control a large amount of the studio’s debt and are ignoring Time Warners bid that has been on the table since March. Meanwhile management want to go ahead with a restructuring plan to raise $1 billion.

The hedge funds want the studio to cut overheads and continue at much lower cost; however, they have no movie industry experience so it is not clear if this would be a workable option.

And until they can move forward in some capacity Bond 23 remains grounded.

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One Response to “Split at MGM”

  • Don

    I hope al partys get things together soon

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