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    Film giant MGM strikes bankruptcy rescue deal

    James Bond seems set to live another day after debt-ridden film giant MGM secured a deal to end months of financial deadlock, which put the latest 007 movie on ice along with the studio's fate.

    Metro-Goldwyn-Mayer, whose catalogue includes the Bond franchise as well as the "Pink Panther" and "Rocky" series, announced a debt-restructuring rescue deal late Friday while rejecting an offer from billionaire Carl Icahn.

    In a statement the legendary studio -- famous for its trademark roaring lion logo -- said its lenders had "overwhelmingly approved its proposed plan of reorganization" with US firm Spyglass Entertainment.
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    Spyglass was favored over a rival offer by Icahn, who reportedly owns about 800 million US dollars of MGM?s debt, to merge the studio with film producer Lionsgate in which he is the largest shareholder.

    "MGM will now move expeditiously to implement that plan, which will dramatically reduce its debt load and put the company in a strong position to execute its business strategy.
    That bold statement has me worried. I don't think there will be another stargate series. Could prove risky.
    http://news.smh.com.au/breaking-news...031-178jo.html

    #2
    Thier is at least half a dozen threads on this topic
    Originally posted by aretood2
    Jelgate is right

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      #3
      Originally posted by globex View Post
      That bold statement has me worried. I don't think there will be another stargate series. Could prove risky.
      http://news.smh.com.au/breaking-news...031-178jo.html
      That worries me too.

      Hey, they mentioned Rocky.

      Comment


        #4
        Originally posted by globex View Post
        That bold statement has me worried. I don't think there will be another stargate series. Could prove risky.
        http://news.smh.com.au/breaking-news...031-178jo.html
        TV series are not risky, part of the business plan they mention is to 'move aggressively into television'.

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          #5
          http://forum.gateworld.net/threads/7...-the-helm-quot
          Where in the World is George Hammond?


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