By MGM filed for bankruptcy over a month ago, so this feels every bit inevitable as it does unfortunate. Today they let go of 50 employees in its Los Angeles departments, though it’s not yet confirmed if they unleashed their MGM lions into the office as the means of removing the workers. With “Spyglass Entertainment” heads Gary Barber and Roger Birnbaum as the newly planned co-CEOs of MGM, thoughts of them watching dozens of people exit the offices from spyglasses on a nearby roof come to mind.
This unsurprisingly coincides with the end of MGM’s two week Chapter 11 reorganization process, and they currently await the final signatures for its new credit facility so that they can exit bankruptcy and get back to business as usual. What kind of business? Well, they expect to arrange $500 million in financing once this mess is cleared up. That kind of business.
[Via TheHollywoodReporter]
MGM filed for bankruptcy over a month ago, so this feels every bit inevitable as it does unfortunate. Today they let go of 50 employees in its Los Angeles departments, though it's not yet confirmed if they unleashed their MGM lions into the office as the means of removing the workers. With "Spyglass Entertainment" heads Gary Barber and Roger Birnbaum as the newly planned co-CEOs of MGM, thoughts of them watching dozens of people exit the offices from spyglasses on a nearby roof come to mind.
This unsurprisingly coincides with the end of MGM's two week Chapter 11 reorganization process, and they currently await the final signatures for its new credit facility so that they can exit bankruptcy and get back to business as usual. What kind of business? Well, they expect to arrange $500 million in financing once this mess is cleared up. That kind of business.
[Via TheHollywoodReporter]