Studio solicits votes on reorganization from debt holders; pair will run the studio once it emerges from Chapter 11
The hairy New Zealander is close to answering the prayers of fans and will agree to direct "The Hobbit" pictures
“The numbers are falling off a cliff, library-wise. They’re lousy”
Reject CEO Cooper's proposed debt restructuring plan.
Debt-laden studio wins agreement for forebearance
Company needs new $20 million in cash in the next two months -- and another $130 million or so after that -- to stay afloat.
Bankruptcy threatened; "Hobbit" and James Bond in peril.
At a company-wide meeting on Wednesday morning at an AMC theater, Cooper presented a three-part plan "to make MGM solvent," says one attendee.
Sloan failed to turn around the debt-strapped studio. Stephen Cooper has been brought in to restructure.
