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Lions Gate Said to Woo MGM Studio Creditors; Seeks Terms Icahn Would Back

July 14, 2010 at 7:43 pm by xoanon  - 

July 14 (Bloomberg) — Lions Gate Entertainment Corp., the independent film and TV producer, has approached creditors of ailing Metro-Goldwyn-Mayer Inc. to help shape a plan to acquire the studio, two people with knowledge of the situation said. Lions Gate Vice Chairman Michael Burns has been meeting in New York with investors who hold some of MGM’s $3.7 billion debt, according to the people, who requested anonymity because the discussions are private. More..

Posted in Hobbit Movie, MGM, Studios, The Hobbit on July 14, 2010 by

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One response to “Lions Gate Said to Woo MGM Studio Creditors; Seeks Terms Icahn Would Back”

  1. Eruonen says:

    Aggravating is all I can say. The collective net revenue of The Hobbit and James Bond at a minimum should entice any deal makers to get the ball rolling. Who knows, that bridge film might even be a requirement to bring in more revenue. A quick look at LOTR shows about 2 billion net…actual worldwide box office less budget. Of course actual net to the studio is less but still very significant. Add in Bond and other film projects and that crushing $3.7+billion debt has a chance of being satisfied. Anyway, my guess is that even if a deal is struck, production will be likely be delayed for months unless Warner will fund the start up or if the debt holders see the need to quickly start up a revenue project.

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