first_img whatsapp whatsapp Share MGM creditor deal gives 007 licence to film KCS-content More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com THE creditors behind MGM studios have voted in favour of a new deal which puts Spyglass Entertainment at the helm.The deal will enable the Hollywood filmmaker to proceed with the production of the latest James Bond film, which had been mothballed due to failure to secure a sale of the studio. More than half of MGM’s individual debt holders voted to approve the Spyglass plan that will place the US firm’s co-founders Gary Barber and Roger Birnbaum as co-chief executives of MGM. The creditors rejected a rival offer from Canadian film producer Lionsgate, owned by billionaire Carl Icahn who already has an $800m (£499m) stake in MGM’s debts.MGM had been struggling with $4bn (£2.5bn) debts due to poor box office returns and a slump in DVD sales. The deal allows lenders to restructure the deficit and exchange $4bn in debt for equity in the company upon its emergence from Chapter 11 bankruptcy.Under new direction from Spyglass, MGM will look to produce fewer big budget films in order to put the studio on a secure financial footing.MGM said in a statement that creditors had “overwhelmingly approved its proposed plan of reorganisation” under the Spyglass deal.Securing an agreement for the struggling studio will mean that production of several big budget films, including the 23rd James Bond picture, can resume. Show Comments ▼ Sunday 31 October 2010 10:28 pm Tags: NULLlast_img

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