MGM, whose current debt repayment deadline is May 15, is seeking another extension from its lenders, an individual close to the negotiations confirmed to TheWrap.
The Hollywood Reporter said the lenders’ steering committee is scheduled to meet Monday, and electronic ballots will be sent early next week to a broader group of debtholders in an attempt to give MGM and its restructuring team more breathing room.
TheWrap was told the steering committee is reviewing the stand-alone proposals and bids for the troubled studio, but of late it has been deadly silent.
