Spyglass Partners Take Over at MGM


MGM announced late this afternoon that Spyglass Entertainment partners Gary Barber and Roger Birnbaum are the ailing movie studio's new chairmen and CEOs. Spyglass will also "contribute certain assets to the reorganized company" in exchange for approximately 0.52 percent of the company, and two entities owned by Spyglass, Cypress Entertainment Group and Garoge Inc., will merge into a subsidiary of MGM. MGM chairwoman Mary Parent is reportedly "one step closer to the exit." Does this mean Bond 23 is revived? [Deadline]