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MGM Confirms Sale
Source: MGM
MGM has addressed rumors of the studio's auction in the next few weeks and has confirmed a possible sale in an official statement:
MGM said today its lenders have agreed to extend the forbearance until January 31, 2010. The lenders took this action in support of the Company's ongoing efforts to develop and evaluate long-term strategic alternatives to maximize value for its stakeholders. MGM appreciates the continued support of its lender group for the process it is undertaking. MGM also said today it is beginning a process to explore various strategic alternatives including operating as a standalone entity, forming strategic partnerships and evaluating a potential sale of the Company.
MGM has addressed rumors of the studio's auction in the next few weeks and has confirmed a possible sale in an official statement:
MGM said today its lenders have agreed to extend the forbearance until January 31, 2010. The lenders took this action in support of the Company's ongoing efforts to develop and evaluate long-term strategic alternatives to maximize value for its stakeholders. MGM appreciates the continued support of its lender group for the process it is undertaking. MGM also said today it is beginning a process to explore various strategic alternatives including operating as a standalone entity, forming strategic partnerships and evaluating a potential sale of the Company.
Tags: mgm, movie news, sale
Add a Comment
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Comment by Brandon Mac $hawn on November 17, 2009 at 3:12am - I agree with Kyle Scott CTHLHU and Cybersoldier. I hope Warner Bros buys MGM.
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Comment by The Jean Genie on November 16, 2009 at 8:04pm - Doubt if they will get thru this. Think its all over for MGM- if they could of found a solution it would have happened by now. Now its just grasping at straws...
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Comment by Kyle Scott on November 16, 2009 at 4:35pm -
Warner Bros is really the only place MGM could go.
All I care about is where Bond 23 is going and if the new studio screws up the franchise with that film. Let Martin Cambell back to do what he do and keep MK12 doing the motion graphics, then all you need is a story and I have all the faith in the world in Haggis and Purvis. All the pieces are there and they have a time tested formula that can go in an infinite number of directions, all they have to do is not drop the ball.
Also if Warner Bros gets MGM, then we could see Never Say Never be put into a James Bond Definitive Collection. Cubby Broccoli will be turning in his grave.
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Comment by Mouse on November 16, 2009 at 2:42pm - sold!! to another rich white guy!!
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Comment by CTHLHU on November 16, 2009 at 1:37pm -
Warner bros, please buy it!
If Disney or Fox buy it, it will get ruined!
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Comment by Porter on November 16, 2009 at 12:29pm - I'm with Cyber I think Warner Bros should buy.
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Comment by Cybersoldier on November 16, 2009 at 11:58am - I could see Warner bros buying MGM, to have complete right for the hobbit, and then could have some lord of the rings mega set. And the chance to get James bond in their catalog of movies
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Comment by Cranky Old Dude on November 16, 2009 at 10:54am -
Sad. I hear the gasps of death throws. Disney are you still buying? OK film fans here is the new office betting pool: Place your bets on the squares and pick:
Who will buy them
When the dirty dead goes down
or will they close up shop.
The fallout: Be a long time before we see the next Bond flick
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