Entertainment & Sports
Nov. 2, 2010
MGM Lenders OK Spyglass Bid
Metro-Goldwyn-Mayer's lenders approved a plan Friday to place the debt-burdened studio into a streamlined Chapter 11 process before it emerges as a smaller company under the control of Spyglass Entertainment's co-chief executives.
Daily Journal Staff Writer
Metro-Goldwyn-Mayer's lenders approved a plan Friday to place the debt-burdened studio into a streamlined Chapter 11 process before it emerges as a smaller company under the control of Spyglass Entertainment's co-chief executives.
Approval of the plan, under which creditors will swap debt for equity and give Spyglass' Gary Barber and Roger Birnbaum control of MGM, ended a year of fin...
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