Entertainment & Sports
May 14, 2010
MGM May Avoid Bankruptcy
Movie studio Metro-Goldwyn-Mayer, weighed down with nearly $4 billion in debt, could get some temporary relief this week if creditors take the expected step of granting the company an extension on a loan payment due Saturday.
Daily Journal Staff Writer
LOS ANGELES - Movie studio Metro-Goldwyn-Mayer, weighed down with nearly $4 billion in debt left over from a highly leveraged buyout six years ago, could get temporary relief this week if creditors take the expected step of granting the company an extension on a loan payment due Saturday.
People close to the situation, who asked to remain anonymous because the talks over a payment...
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