MGM's plan B

On Monday MGM announced a March 19th deadline for offers for the studio, with six parties expected to bid.However, according to a story on MI6 today quoting Wall Street Journal as its source, the studio is preparing a “plan B” in case the bids fall short.

The plan is thought to involve existing creditors assuming control of the studio in a debt for equity swap and selling stock to another investor, who could include one of the hedge funds currently involved with the studio.