Another Twist To The Hobbit Saga

Investor Carl Icahn has thrown another spanner in the works that will hold off the impending chapter 11 bankruptcy of MGM for a while longer.

According to an article in the Hollywood Reporter bankruptcy is unlikely now to be filed until mid-week.

Icahn has asked that more than a dozen Spyglass film-library titles be removed from the transaction and the Westwood production company’s stake be downsized from 4.7% to less than 1%. That demand was still being finessed on Monday, and Icahn’s request for two MGM board seats has been whittled to one…read more here