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Entertainment & Sports

Feb. 2, 2010

MGM Gets Delay on Debt Payment

Debt-burdened movie studio Metro-Goldwyn-Mayer announced Friday that its lenders would extend by two months a forbearance period on an interest payment that was due Sunday.

By Jean-Luc Renault

Daily Journal Staff Writer

Debt-burdened movie studio Metro-Goldwyn-Mayer announced Friday that its lenders would extend by two months a forbearance period on an interest payment that was due Sunday. It's the third time in four months that Century City-based MGM-which owes its lenders about $3.7 billion following a highly leveraged $4.8 billion buyout by a group of investors in 2004-has been able to delay the payment,...

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