MGM Studios Facing Bankruptcy
Posted on Sep 9, 2010 9:30pm PDT
At this time, MGM Studios may be forced into bankruptcy if they do not pay their debt interest. Due to lack of funding, the studio has had to halt the production of several film projects. If a force bankruptcy occurred, the ownership of MGM would be taken away and could spell the end of MGM's producing and distributing days. The studio is reportedly asking for an extension of repayment deadlines in order to avoid bankruptcy.
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