MGM out of bankruptcy
MGM has officially emerged from bankruptcy. A press release today from the debt-hobbled studio confirms that after seven weeks the company has been restructured, with $500 million in financing. Spyglass Entertainment heads Gary Barber and Roger Birnbaum will serve as co-chairman and CEOs. No word yet on when the next James Bond movie will restart pre-production, but the restructuring should help clear the way for 007’s return.