Movies

MGM lenders to decide course of action on Thursday

MUMBAI: Lenders of MGM will meet on Thursday to decide a course of action in the wake of not-so-happy bids for the studio.


Further bidding for the entire studio is unlikely, but a handful of investors may likely be asked to make offers on narrow equity stakes as a means of raising operating capital.


It may be noted that Wednesday is the deadline on a $200 million-plus interest payment by MGM, the credit facility of which expires on 8 April 8.


To get past those two deadlines, something like a 15-day extension of the most recent debt-forbearance agreement is envisioned. MGM and its consultant Moelis & Co. have asked for a 45-day extension, but lenders seem in no mood to comply.


Though attempts to sell the studio outright seem to have hit a road block, an eventual restructuring of the Lion appears inevitable. Companies keen to assist in the process are expected to meet representatives of Moelis and MGM chief Stephen Cooper in an effort to detail investment proposals key to any restructuring.


While Access Industries, Qualia Capital and Anchorage Advisors are among those willing to invest $500 million-$1 billion in MGM to obtain a chunk of studio equity, News Corp. has also show interest.


While Sony has evinced interest in the James Bond rights, Warner Bros. would be willing to buy out MGM‘s share of Hobbit which Warners controls 50-50 with the Lion.


Meeting in Los Angeles, a J.P. Morgan-led lenders committee will discuss ways to restructure MGM, with the aim of making a recommendation to the entire lenders group.


The debtholders would have about a week to vote, with two-thirds majority needed to approve any plan.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/25/Rjavardhan-rathor-800x800.jpg?itok=eYAh5ig1
Rs 125 million incurred on Film Heritage Mission this year

NEW DELHI: A total of about 1,32,000 film reels have been acquired and the work of assessment, preventive conservation and restoration started under a mission mode project under the National Film Heritage Mission (NFHM). The scheme is to be implemented between 2014-15 and 2020-21 with total outlay...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/24/anarkali%20%281%29.jpg?itok=_Hz9Q49z
Anaarkali Of Aarah: Worth a look

Just when one was expecting a week of lack-lustre films especially as some small filmmaker is releasing his or her work, comes a surprise that reinforces faith in good cinema.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/21/Badrinath-ki-Dulhaniya.jpg?itok=9AKk4o7J
Dismal releases help last week's film to turn lucky at the Box Office

MUMBAI: With dismal releases, the week proved lucky for last week’s ‘Badrinath ki Dulhaniya’ as none of the three films fresh releases this week managed to create any impact on the viewers.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/20/Freedom%20of%20speech.jpg?itok=S5jPVnrt
'Freedom of speech' vital in progressive society, says Nandita Das

NEW DELHI: Three short films made by renowned filmmakers Sudhir Mishra, Nandita Das and Ram Madhvani on meaningful subjects marked the India Today conclave on its closing day in Mumbai. India Today Group editorial director Kalli Purie said the films had been commissioned by the group to mark four...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/17/machine%20%281%29_0.jpg?itok=rcz0b_3J
Machine.... Poor show

Machine is a rather unlikely story with an unlikely title. Coming from Abbas Mustan duo, the Burmawalla brothers, who made a reputation for giving thrillers and action films with good musical score, one expected more of the same stuff. Having worked with some of the top artistes of Hindi film...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/14/badri%20%281%29.jpg?itok=86DVRTqy
'Badrinath Ki Dulhania' is on its way to becoming a hit

The time period for the release of Badrinath Ki Dulhania was dicey to say the least. The film was released bang in the middle of days of election results in the most politically volatile states of the North India, board exams and the pre-Holi Friday. Also, cinema halls are closed till mid-noon on...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/14/paramount.jpg?itok=gy3_va7l
Paramount & Anonymous Content to make 'The Windfall' as a TV series

Paramount TV and Anonymous Content have come together to develop Indian author Diksha Basu’s upcoming debut novel The Windfall as a TV series.

Movies Hollywood
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/10/kung-fu%20%281%29.jpg?itok=xrr6JRYL
Kung Fu Panda 3 premiering on Star Movies on 19 March

This month Star Movies brings to its viewers Kung Fu Panda 3, the latest installment in the animated series featuring Po, a dumpling loving Panda, who defies all odds to become a Dragon Warrior. From the very first film, Po has created a special space in the hearts of audiences of every age and...

Movies Hollywood
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/10/badri%20%281%29.jpg?itok=zjx-Ps3H
Badrinath Ki Dulhania: Part fun, part dull

Director Shashank Khaitan seems to be creating a franchise of his own as he comes back with 'Badrinath Ki Dulhania' after his earlier film, Humpty Sharma Ki Dulhania. This film too starts off in Hindi belt but later traverses to Singapore to break the monotony.

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories