The Big Cat has announced that a creditor vote has lead to the acceptance of the Spyglass plan. Under the scheme MGM will become a “working studio” and no longer a distributor of films.
Metro-Goldwyn-Mayer Inc. (‘MGM’) today announced that the secured lenders voting in the Company’s solicitation process have overwhelmingly approved its proposed plan of reorganization (‘Plan’). MGM will now move expeditiously to implement that Plan, which will dramatically reduce its debt load and put the Company in a strong position to execute its business strategy. MGM is appreciative of the lenders’ support.
This leaves sources such as industry blog Deadline debating who will become the distributor of the new James Bond movie.
Sony Pictures did so for Daniel Craig’s previous two James Bond outings – Casino Royale and Quantum of Solace – but Mike Fleming at Deadline suggests they will not retain the honor for James Bond 23.
Warner brothers and Fox are also in contention but Fleming (no relation to James Bond’s creator as far as we can tell) predicts the honor will go to Paramount because of a “close relationship” between Paramount and Spyglass.
Once the restructuring process commences there is real hope on the horizon for 007.