Spyglass trained on MGM?

Report: Toppers Gary Barber and Roger Birnbaum in talks to run studio

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.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading