MGM watch: Spyglass Entertainment may gain control of studio, WSJ says


The Wall Street Journal, in a story by Mike Spector and Lauren A.E. Schuker, reports that Spyglass Entertainment may be the leading contender to take control of Metro-Goldwyn-Mayer Inc., owner of half of the James Bond franchise.

An excerpt:

Spyglass Entertainment has emerged as the leading contender to run Metro-Goldwyn-Mayer Inc., said people familiar with the matter, as the beleaguered film studio scrambles to restructure a roughly $4 billion debt load this summer.

Spyglass co-heads Gary Barber and Roger Birnbaum would run the studio as co-chief executives under a plan being discussed with MGM’s creditors, these people said.

To read the entire story, JUST CLICK HERE. Warning: The Wall Street Journal is a pay Web site and it only provides a short preview for free. (Unlike a certain prominent fan Web site, we don’t violate copyright law and do a cut-and-paste of an entire copyrighted article while claiming we wrote the entire thing.)

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