MGM movie company resumed operations
The MGM movie company has resumed its operations, having received a loan of $ 500 million under bankruptcy proceedings. This is reported by The Hollywood Reporter, citing a press release from the company. " MGM is emerging from the longest crisis in its history. We are honored to run one of the most famous Hollywood studios as it embarks on the production of new movies, TV programs and aggressive promotion of existing projects, '' said CEOs Gary Barber and Roger Birnbaum in a statement. In line with the reorganization plan, MGM was able to fund projects such as The Hobbit and the 23rd episode of Bond, and also retained the rights to other popular franchises, like `` Robocop '' and Rocky. By the end of 2010, MGM's debt had grown to $ 5 billion, and the company was forced to take advantage of bankruptcy law. The Topic of Article: MGM movie company resumed operations. |
