Today MGM’s proposal for pre-packed bankruptcy was approved by a federal court.
“Today’s ruling is an important milestone for MGM,” said Co-Chief Executive Officer Stephen Cooper. “Thanks to the support of our lenders and the hard work of our employees, we have moved through the restructuring process quickly. By dramatically reducing MGM’s debt load and providing MGM with access to new capital, the reorganization plan the Court confirmed today will enable MGM to emerge from this process with a solid financial foundation and will position MGM to be a successful studio going forward.”
MGM expects the Plan to become effective by mid-December, once the conditions of effectiveness have been met.
Regular 007 music man, David Arnold has confirmed that plans are afoot in relation to James Bond 23.
Speaking to Film Music Magazine, Arnold said that they “just got the news that we’re back on.” Nonetheless the composer is keeping defiantly scilent, saying he “will keep quiet until I get a script and then start writing ideas.”
David Arnold, a lifelong Bond fan, prior to writing the music, stated: “I’m looking forward to a great script for it, alongside every other Bond fan in the world!”
