When MGM exits bankruptcy next month, its new-look board of directors will include a few more media veterans. Jason Hirschhorn, who was recently the co-president of MySpace, and former CBS Corp chief financial officer Frederic Reynolds will be part of the 9 person board, joining new MGM bosses Gary Barber and Roger Birnbaum along with representatives of creditors that helped restructure the company. Two board spots have yet to be filled, and one of those will be chosen by Carl Icahn, who just unveiled his Lionsgate board and who has in recent months amassed 18% of MGM’s debt. The appointments of Hirschhorn and Reynolds tap into MGM’s attempt to leverage its extensive film library while managing its release slate, which will supposedly be around 7-8 films per year starting in 2012. Reynolds will bring his traditional media experience to the company, while Hirschhorn, prior to Facebook, was president of entertainment for Sling Media and chief digital officer for MTV Networks. December 2 is the day on which the bankruptcy court is expected to approve MGM’s reorganization plan.
MGM’s Post-Bankruptcy Board Takes Shape
By THE DEADLINE TEAM | Friday November 26, 2010 @ 7:17pm PSTTags: Carl Icahn MGM Debt, Gary Barber, MGM, MGM Board of Directors, Roger Birnbaum
This article was printed from http://www.deadline.com/2010/11/mgms-post-bankruptcy-board-takes-shape/
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I really like all the movies from this company. Sad to say that it already lost its original people that are connected with this one. I guess it will be better on 2012.
So, which did Hirschhorn work for, Myspace or Facebook?
Louis B Mayer must be spinning
in his grave.
That may be the case, but he’s been spinning in his grave for some time. I think Birnbaum and Barber should be given a chance. I can not say that I am at all thrilled that Carl Icahn is involved. I don’t think he is all that brilliant when it comes to the movie business.
if they’re smart they’ll get rid of that two faced weasel Charles Cohen when they clean up house.