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Entertainment & Sports

May 15, 2010

MGM Gets Credit Relief

Debt-burdened movie studio Metro-Goldwyn-Mayer announced Thursday that its creditors have agreed to extend a forbearance period on loan payments- originally due over the weekend- until mid-July.

By Jean-Luc Renault

Daily Journal Staff Writer

Debt-burdened movie studio Metro-Goldwyn-Mayer announced Thursday that its creditors have agreed to extend a forbearance period on loan payments originally due over the weekend until mid-July.

The extension, the studio's fifth since last November, gives MGM some breathing room as it continues to work with bankruptcy lawyers and about 140 lenders to restructure $3.7 billion in ...

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