Report: Spyglass Is Leading Contender for MGM

The independent’s co-heads would run the studio if takeover plan succeeds

Last Updated: June 21, 2010 @ 5:56 PM

Spyglass Entertainment has emerged as the leading contender to run Metro-Goldwyn-Mayer Inc., said people familiar with the matter, as the beleaguered film studio scrambles to restructure a roughly $4 billion debt load this summer.

Spyglass co-heads Gary Barber and Roger Birnbaum would run the studio as co-chief executives under a plan being discussed with MGM's creditors, these people said.

The talks are continuing, and no final decisions have been made, the people said.

Read more in the Wall Street Journal.