MGM movie studio is officially for sale

Movie studio Metro-Goldwyn-Mayer, or MGM, is officially for sale, Variety reports. The studio announced Friday that the MGM debtholders would extend forbearance on debt payments until Jan. 31, and that MGM was “beginning a process to explore various strategic alternatives including operating as a standalone entity, forming strategic partnerships, and evaluating a potential sale of the company.” MGM has a library of at least 4,000 titles, and it owns the rights to the James Bond franchise.

Comments (5 total) Add your comment
  • Brooke

    Oh…snap.

  • Marnie

    Omg wow

  • Mel J

    I didn’t know they were in trouble.

  • Nerwen Aldarion

    Whoa…I’ve been seeing that lion roaring right before some of my favorite movies since I was born!

    Our economy must REALLY be in trouble!

  • Jayme

    Cabin better be safe. Maybe we’ll get it on it’s original release date now…

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