LOS ANGELES (AP) - Struggling movie studio Metro-Goldwyn-Mayer
Inc. is looking for a buyer.
The home of the James Bond and Pink Panther franchises said
Friday it has begun to explore strategic options including "a
potential sale of the company."
In a statement, MGM also said its lenders have agreed to grant
the company another brief respite until the end of January from
interest payments on nearly $4 billion in debt.
The studio owes $3.7 billion to a total 140 lenders in the form
of bonds maturing in mid-2012.
It also has a $250 million revolving credit facility with
JPMorgan due in April.
MGM was taken private for nearly $5 billion in 2005 by a group
of private equity firms, Sony Corp. and Comcast Corp.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.