NEW YORK (Reuters) – Metro-Goldwyn-Mayer Studios Inc filed for bankruptcy on Wednesday, marking a climax to a drawn-out restructuring for the storied Hollywood studio that controls the James Bond films and made "The Wizard of Oz." Ooops, Bond 23 delayed again. Here is the link from Yahoo News: http://news.yahoo.com/s/nm/20101103/media_nm/us_mgm
MGM has been struggled too much since 2005, now this is the perfect time for them to file for the bankruptcy. MGM studio filed for bankruptcy on Wednesday, The Chapter 11 filing follows a vote by MGM creditors last week to endorse a "prepackaged" bankruptcy that would put MGM under the control of Hollywood executives Gary Barber and Roger Birnbaum, who control the Spyglass Entertainment film company.