MGM creditors 'back bankruptcy deal with Spyglass' 31 October 2010Last updated at 11:29 Will MGM's lion roar back to profit? Creditors of Hollywood's legendary MGM studio have voted in favour of a bankruptcy plan offered by US firm Spyglass Entertainment. The rescue deal would put Spyglass at the helm of MGM, which is struggling under $4bn (£2.5bn) of debts. The creditors rejected rival offers including from Canada's Lionsgate, part-owned by billionaire Carl Icahn. The months of financial deadlock meant several film projects were put on hold, including the latest 007 movie.
MGM has struggled due to several box office flops and a DVD sales slump. The rescue plan provides for MGM's secured lenders to exchange $4bn in debt for equity in the company upon its emergence from Chapter 11 bankruptcy. The trimmed-down company would then be taken over by Spyglass. In a statement, MGM, famous for its trademark roaring lion logo, said that its lenders had "overwhelmingly approved its proposed plan of reorganisation" by Spyglass.
Music Legal News. Movies. U.S. guitar maker uses traditional methods for great sound. PORTLAND, Ore. — Built from scratch with carefully selected wooden materials and exquisite balance, John Greven’s acoustic guitars have won a loyal following among musicians both at home and abroad. Notification You’ve reached your story limit as a non-registered user. To read more, please sign up or log in via one of the services below. This will give you access to 15 additional stories this month. Library of Congress receives 200,000 vintage master recordings from Universal, will stream them online.
January 10, 2011 Universal Music Group Donates Over 200,000 Master Recordings to the Library of Congress Library's Largest Musical Gift Features Billie Holiday, Louis Armstrong, Bing Crosby & Others The American people, through the nation's library, will receive a post-holiday gift of vintage sound recordings from one of the world's largest recording companies. The Library of Congress and the Universal Music Group (UMG) announced today the donation of more than 200,000 historic master recordings-many long out-of-print or never released-to the Library's Recorded Sound Section, which has more than 3 million sound recordings in its collections.
Totaling in excess of 5,000 linear feet, UMG's gift is the largest single donation ever received by the Library's audio-visual division and the first major collection of studio master materials ever obtained by the nation's oldest cultural institution. They include:
Sears and K-Mart Launch Movie Download Service, Netflix Competitor. When it comes to watching digital video, 28 days later might soon be a service's most important selling point. Not whether they have Danny Boyle's zombie epic in stock--but whether sellers and rental companies offer films and TV shows on the day of release, or four weeks after. Today, retail giant Sears scored that 28-day advantage in a new agreement that will give the company a leg-up over competitors such as Netflix.
Sears this week launched an online movie download service to provide its and K-Mart's customers with digital flicks the same day as they're released on DVD. Part of a multi-year deal, the service runs on Sonic Solution's platform (known for its content-delivery system RoxioNow and recent acquisition of digital codec Divx), and is set to be available on mobile devices and HDTVs. Unlike Netflix, which under agreement with movie studios must wait 28 days before offering new releases, non-subscription services like Sears' are not subject to the delay window.
Movies rented with iPhone 4 won't transfer to iTunes. Public broadcasting's necessary enemies | Theo Brainin. Sir Michael Lyons, outgoing chairman of the BBC Trust, has warned that a tough licence-fee settlement may mean cuts in some public broadcasting services. Photograph: David Levene for the Guardian "Let's not be under any misapprehension, the notion that we can look for a 16% reduction in budget and sail on as you are is inconceivable.
" So said Michael Lyons, BBC Trust Chairman, as he hinted on Tuesday that major BBC services are at risk under the corporation's strategic review. Words of defeat, you might conclude. Defeat is an appropriate term, because those who support public broadcasting tend to see things as a battle. The enticing narrative of media conflict encourages us to pick sides, but it would be better to view the issue holistically. The "Public Broadcaster v Murdoch-and-friends" yarn can be spun just as well here in the US. The attacks come in different flavours on either side of the Atlantic. That's not to say there aren't plausible rebuttals. Via Celebrity News | Celebrity Gossip | BuzzHollywood.com htt. Flickchart - Your Rankings And Charts Of The Top Movies Of All T. TuneUp | Digital Music Management and Music Discovery for iTunes.