Spyglass Entertainment is nearing a deal to run debt-ridden movie studio MGM, according to The Wall Street Journal. Spyglass, which has co-financed such movies as Dinner for Schmucks, Star Trek, and The Sixth Sense, would receive a 4 percent ownership stake in the restructured studio, and creditors would forgive MGM’s $4 billion debt in exchange for the bulk of the studio’s new equity. A deal could reportedly be finished as soon as this week, ultimately paving the way for MGM to return to making movies, including the James Bond franchise and Peter Jackson’s two Hobbit films.
Posted August 10 2010 — 9:10 PM EDT
- There is no new novel in Harper Lee's deposit box, despite rumors
- Whedon fave on 'Bloodsucking Bastards' (and why he wants to be killed by Thor)
- Syfy renews 'Dark Matter' and 'Killjoys' for second seasons
- David Lagercrantz reveals what it's like to take over the 'Dragon Tattoo' series
- Jimmy Fallon will interview Donald Trump on 'The Tonight Show'
- London Film Festival unveils full lineup
- Jimmy Kimmel addresses 'avalanche' of backlash from video game sketch
- VMAs 2015 Red Carpet: See All the Looks!
- 16 TV characters who stuck around longer than expected
- Behind Lady Gaga's killer look in 'American Horror Story: Hotel'
- 'American Horror Story: Hotel' First Look: 11 EW exclusive photos
- 17 photos of people you forgot hung out at the VMAs
- Kendall Jenner, Jamie Dornan, Katie Holmes & More!