MGM creditors hire financial consultant

May 14, 2009 MGM's cash-flow woes are rattling debt-holders -- so much so that the investor owners of the studio have formed a creditors' steering committee and hired financial consultancy Houlihan Lokey to propose restructuring options for the studio. Until then, MGM seemed to be sizing up, with execs assuring anyone inquiring that cash flow was sufficient to maintain a healthy balance sheet until the second quarter of 2010. Last year, MGM began aggressively buying film scripts for a new film-production unit topped by ex-Universal exec Mary Parent, and a few pics have gotten before the cameras.

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