Print
E-mail
Share
digg
Newsvine
Facebook
Stumble
Technorati
reddit
Fark
twitterMGM studio to sell $750 mil. in stock
Wednesday, July 14, 1999 | 11:59 a.m.
SANTA MONICA, Calif. -- Metro-Goldwyn-Mayer Inc. said it has filed with the Securities and Exchange Commission to sell $750 million in stock to pay debts, cover restructuring costs and raise working cash.
Money from the stock sale will cover restructuring expenses, reduce bank debt and raise money for increased film and television production, MGM said Tuesday.
Billionaire Kirk Kerkorian's Tracinda Corp., which owns most of MGM's shares, supports the stock sale and is willing to buy any shares not purchased by existing stockholders and the public.
Kerkorian also controls MGM Grand Inc., the Las Vegas casino company.
archive
- Most Read
- Discussed
- Most E-mailed
- The pull of a drug, a push to the brink
- Was there an ulterior motive in parking the stripper-mobile?
- CityCenter hotel welcomes new employees with gala
- Forrest Griffin writes his own ending at UFC 106
- Notebook: The Shark and LJ circle
- Police arrest 2 more in fatal shooting of Metro officer
- Harry Reid’s hopes hitched to health care reform bill
- What might result from a national airing of Ensign’s dirty laundry
- Politicians waste no time spinning latest jobless numbers
- Illness theory gaining ground for gambling addiction
Blogs
Robin Leach's Las Vegas Celebrity Watch
DWTS Finale: Top three couples perform three dances
High School Sports Scene
How Gorman saved the school district thousands
Politics: Ralston's Flash
GOP consultants Rogich, Ernaut back Democratic AG's re-election (2 Comments)
Audio: Ex-Gov. Bob List accuses Harry Reid of "abuse of power" on health care (1 Comment)
Now and Then
Michael Schumacher takes 7th in go-kart race at Rio
The Kats Report
Monday List: 20 at 20, a quick look at The Mirage on a landmark birthday (1 Comment)
Robin Leach's Las Vegas Celebrity Watch
Photo Gallery: Donny’s correct prediction of Osmond vs. Osbourne
Calendar »
- 24 Tue
- 25 Wed
- 26 Thu
- 27 Fri
- 28 Sat
-
Thanks-Spinning with Z-Trip at Moon
Moon Nightclub | 10 p.m. to 11:59 p.m.
-
Food Drive at Coyote Ugly
Coyote Ugly | 10 p.m. to 11:59 p.m.
-
Surfer Blood with ACoSA at Beauty Bar
Beauty Bar | 10 p.m. to 11:59 p.m.
-
Lipz and the Bunkhouse Blues Band
Bunkhouse Saloon Bar & Grill | 10 p.m.
-
Ladies night at Feelgoods
Feelgoods
-
Canned food drive at Pure
PURE | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
