MGM is taking on the persona of the sexy girl every guy wants to date, but no one wants to take home to meet mom. The legendary studio is facing a major financial crisis and has $3.7 billion in outstanding loans that it can't repay. The lenders refused an offer to turn the funds into equity and MGM now faces the possibility of declaring bankruptcy. There have been attempts to sell the studio but the offers are nowhere near the cash required to repay the outstanding loans. Plenty of studios are interested in acquiring MGM, but not to run it as a studio. They are after the jewels in the MGM crown, namely the rights to the lucrative film archive that includes the James Bond series. For more
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