You are viewing the archive: “Roger Birnbaum”

Lionsgate, Carl Icahn Set Sights On MGM

By THE DEADLINE TEAM | Tuesday October 12, 2010 @ 6:59am PDTTags: Carl Icahn, Carl Icahn Lionsgate, Carl Icahn Lionsgate Lawsuit, Carl Icahn Lionsgate MGM Merger, Carl Icahn MGM, Gary Barber, Lionsgate, Lionsgate MGM Merger, Mark Rachesky, MGM Spyglass, Movies, Roger Birnbaum

Below is Carl Icahn’s statement from this morning expressing his support for a proposed Lionsgate/MGM merger. Late Monday, Lionsgate sent a proposal to MGM expressing support of a ”business combination” after what it called “detailed” discussions with Icahn. All of this after rebuffing Icahn’s attempts for so long. This latest development comes just days after MGM  said it was planning a merger with Spyglass wherein Gary Barber and Roger Birnbaum would be the new bosses.

“We are holders of significant positions in both Lions Gate stock and MGM debt. Today, Lions Gate has made a proposal to combine these two companies. We believe that this combination of Lions Gate and MGM would enhance value for all constituencies and we believe this proposal as submitted is far better for MGM holders than the current proposal to combine MGM with Spyglass. In addition, we also believe such a combination transaction would enhance the value of Lions Gate shares. However, we intend to continue to pursue our lawsuits regarding Lions Gate’s recent dilutive transaction with Mark Rachesky. Whether or not we prevail in those lawsuits, we intend to continue to support a combination of Lions Gate and MGM. Our support for this combination is conditioned on the combined company having satisfactory corporate governance provisions.”

Comments (4)

MGM Crowns Spyglass Partners Gary Barber And Roger Birnbaum New CEOs

By MIKE FLEMING JR | Thursday October 7, 2010 @ 2:25pm PDTTags: Gary Barber, MGM, MGM Chapter 11, MGM Distribution, MGM Finance, MGM Gary Barber, MGM James Bond, MGM Marketing and Distribution, MGM Restructuring, MGM Roger Birnbaum, Movie Deals, Movies, Roger Birnbaum
Mike Fleming

2ND UPDATE: MGM has just confirmed Deadline’s report that it has formally named Spyglass partners Gary Barber and Roger Birnbaum its new chairmen/CEOs, and the studio has just issued a press release describing its reorganization effort. It appears … Read More »

Comments 27

MEMO: MGM Not Veering From Spyglass

By MIKE FLEMING JR | Monday September 20, 2010 @ 12:47pm PDTTags: Gary Barber, MGM, MGM Bankruptcy, MGM Forbearance Period, MGM Restructuring, MGM Sale, MGM Spyglass, Roger Birnbaum, Sahara India Pariwar, Sahara India Pariwar MGM, Studios
Mike Fleming

EXCLUSIVE: Despite the speculation that India conglomerate Sahara India Pariwar might swoop in and buy MGM for $2 billion, it doesn’t sound like MGM’s current management is taking it that seriously. At least not based on this internal memo I just obtained:

… Read More »

Comments (14)

Bloomberg: MGM Creditors To Vote On Pre-Packaged Bankruptcy Plan This Month

By NELLIE ANDREEVA | Friday September 10, 2010 @ 4:51pm PDTTags: Gary Barber, MGM Creditors, MGM Debt, MGM Finance, MGM Restructuring, MGM Spyglass, Roger Birnbaum, Spyglass
Nellie Andreeva

MGM creditors will be asked to approve a restructuring and pre-packaged bankruptcy plan for the studio within the next week or two, Bloomberg reports. This follows Spyglass chiefs Roger Birnbaum and Gary Barber’s signing non-binding letters of intent on … Read More »

Comments (2)

Spyglass Partners Inch Closer To MGM Reins; Battle Royals Looms For James Bond Distribution Rights

By MIKE FLEMING JR | Wednesday September 8, 2010 @ 12:17pm PDTTags: Gary Barber, Ken Schapiro, MGM Debt, MGM Distribution, MGM Finance, MGM Spyglass, Roger Birnbaum, Spyglass, Star Trek Sequel, The Hobbit MGM
Mike Fleming

As expected, the MGM ownership situation is getting closer to being sorted, and it won’t be long before the Lion has a chance to roar again. Or at least emerge from its cage. Spyglass chiefs Roger Birnbaum and Gary Barber … Read More »

Comments 25

EXCLUSIVE: Summit Walks Away From MGM To Go Back Into Acquisitions Mode

By NIKKI FINKE, Editor in Chief | Friday September 3, 2010 @ 12:05pm PDTTags: Gary Barber, MGM Spyglass, Patrick Wachsberger, Rob Friedman, Roger Birnbaum, Spyglass, Summit Entertainment

“Summit is pulling out because the process has gone on way too long and it’s become a distraction for the business,” an insider tells me this morning. Summit toppers Rob Friedman and Patrick Wachsberger are still in acquisition mode, and the … Read More »

Comments (8)

MGM To Morph Into A Pure Production Play?

By MIKE FLEMING JR | Tuesday June 29, 2010 @ 11:46am PDTTags: Gary Barber, Lionsgate, MGM, MGM Marketing and Distribution, MGM Spyglass, Roger Birnbaum, Spyglass, Spyglass MGM Production Company, Studios, Summit Entertainment
Mike Fleming

Can ‘The Hobbit’ Wait For MGM Decisions?

MgmlogosmallEXCLUSIVE: Now that Spyglass has emerged as the favorite to steer MGM’s future fortunes — although Summit insists it’s not out of the running yet and Lionsgate is in merger talks — more details are emerging about MGM’s possible future. Insiders tell me that the Spyglass plan would transform MGM into a pure production company and close down its marketing and distribution divisions. That would certainly cut costs in the short run. Coupled with the equity that Spyglass would bring to the table, a streamlined MGM would lower its debt and have a shot at raising new funding to finance its own pictures. That would let Spyglass partners Gary Barber and Roger Birnbaum do what they do well, which is to lower risk by making domestic and offshore distribution deals.

SpyglassBut I see the downside of this plan. MGM would have to pay others to distribute and market its films — and those fees could be comparable or higher than the monies saved on overhead. I’m told that rival Summit and Lionsgate proposals would maintain MGM as a studio because both companies have distribution divisions. The Spyglass move would mean yet another morphing of MGM over the recent past. Under Harry Sloan, the revived studio started off as a distribution rental system for films by financiers like Sidney Kimmel and The Weinstein Co, a strategy that didn’t work. Read More »

Comments (12)

Spyglass Beating Summit To Run MGM?

By NIKKI FINKE AND MIKE FLEMING JR | Monday June 21, 2010 @ 6:39pm PDTTags: Gary Barber, James Bond Franchise, MGM, MGM Finance, MGM Restructuring, Peter Chernin, Roger Birnbaum, Spyglass, Summit Entertainment, Time Warner, Wall Street Journal

MgmlogosmallFor weeks now, we have been hearing from our various sources at studios, agencies and production companies that Spyglass Entertainment is in the lead to run a restructured MGM despite Summit Entertainment also being very much in the mix. But it’s been … Read More »

Comments (13)
« Previous Deadline | Hollywood