LOS ANGELES, Oct 7 (Reuters) – Film Studio
Metro-Goldwyn-Mayer proposed a pre-packaged bankruptcy plan on
Thursday that would wipe out $4 billion in debt and put the
founders of Spyglass Entertainment at the helm.
MGM, which has been mired in months of discussions with
creditors and investors to try to reduce its debt, said it had
begun seeking lenders’ votes for the plan of reorganization to
salvage one of Hollywood’s most legendary studios.
What do Lady Gaga, Yoko Ono, Iggy Pop and Bloomie’s have in common? This week: They are all singing John Lennon’s praises. Well, Bloomingdale’s isn’t — not exactly. But you can buy apparel from Lyric Culture, which is featuring John Lennon’s songs, this week at the department store. Their t-shirts caught our eye as Oct. 9, what would have been the Beatle’s 70th birthday, draws near.
Numerous events are planned around the world. Lady Gaga, Yoko and Iggy played in L.A. and, of course, there is a lot of merchandising — record reissues, DVDs, Beatles and Lennon memorabilia. The Lyric Culture clothing comes from company founder Hanna Rochelle, also a singer-songwriter.
LOS ANGELES, Oct 6 (Reuters) – Netflix Inc (NFLX.O: Quote, Profile, Research, Stock Buzz) on
Wednesday said it reached a deal to rent Sony (6758.T: Quote, Profile, Research, Stock Buzz) movies
28 days after they go on sale, while NCR (NCR.N: Quote, Profile, Research, Stock Buzz), which rents
DVDs at nearly 7,000 Blockbuster kiosks, reached a similar deal
with Universal Studios.
LOS ANGELES (Reuters) – Walt Disney Co on Sunday appointed two digital veterans to lead its loss-making stable of Internet properties, underscoring a renewed focus on developing digital businesses.
James Pitaro, an experienced Internet executive who just left his post at running the media properties at Yahoo Inc, will oversee Disney Online, the home of Disney branded web and social media sites.
LOS ANGELES/BANGALORE (Reuters) – Walt Disney Co has sold film studio Miramax for more than $660 million to Filmyard Holdings LLC, ending months of talks between the media group and various bidders.
Construction magnate Ron Tutor, investment firm Colony Capital LLC and other individuals are part of Filmyard Holdings, Disney said.