LOS ANGELES (AP) — Struggling movie studio Metro-Goldwyn-Mayer Inc. is looking for a buyer.
The home of the James Bond and Pink Panther franchises said Friday it has begun to explore strategic options including "a potential sale of the company."
In a statement, MGM also said its lenders have agreed to grant the company another brief respite until the end of January from interest payments on nearly $4 billion in debt.
The studio owes $3.7 billion to a total 140 lenders in the form of bonds maturing in mid-2012.
It also has a $250 million revolving credit facility with JPMorgan due in April.
MGM was taken private for nearly $5 billion in 2005 by a group of private equity firms, Sony Corp. and Comcast Corp.
