Spyglass Entertainment toppers Gary Barber and Roger Birnbaum have emerged as candidates to run beleaguered MGM, according to sources cited by the Wall Street Journal.
MGM had no comment about the report, which indicated that the Spyglass would be brought in to operate the company once the Lion has restructured its balance sheet, which at present is weighed down with about $4 billion in debt.
The report also said that Summit Entertainment is also under consideration to play a role once the MGM debtholders agree on a restructuring plan, which may take several more months to achieve.
MGM’s financial problems have led to the studio putting operations on hold including prepping for the next James Bond movie and spending on the upcoming “Hobbit” films, which are co-financed with New Line.
Reps for Summit and Spyglass had no comment.