Brian Damage
09-25-2009, 09:23 AM
http://www.deadline.com/hollywood/exclusive-details-mgm-makes-phone-plea-to-bondholders-for-millions-to-stay-alive-both-hobbit-and-james-bond-in-peril-bondholders-tell-studio-to-go-bankrupt-mgm-calls-that-worst-possible-outcom/#
Back in 1924, Metro Pictures, Goldwyn Pictures Corporation and Louis B. Mayer Pictures merged together to form Metro-Goldwyn-Mayer, or MGM, with the motto, "Ars Gratia Artis", a Latin phrase meaning "Art for art's sake." Over the last 85 years, the studio has become one of the most powerful and recognized studios ever, probably because of their iconic logo (seen above) and roaring lion at the start of all of their films. Well, bad news, as Nikki Finke reports that the studio is "teetering on bankruptcy." Apparently they made a desperate call on Thursday asking for help rounding up an extra $170 million in emergency funds.
Back in 1924, Metro Pictures, Goldwyn Pictures Corporation and Louis B. Mayer Pictures merged together to form Metro-Goldwyn-Mayer, or MGM, with the motto, "Ars Gratia Artis", a Latin phrase meaning "Art for art's sake." Over the last 85 years, the studio has become one of the most powerful and recognized studios ever, probably because of their iconic logo (seen above) and roaring lion at the start of all of their films. Well, bad news, as Nikki Finke reports that the studio is "teetering on bankruptcy." Apparently they made a desperate call on Thursday asking for help rounding up an extra $170 million in emergency funds.