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Movies

Submission + - Hollywood movie studio MGM files for bankruptcy.

cbiltcliffe writes: MGM Movie studios (distributor of the James Bond movies) filed for bankruptcy in Manhattan after rejecting a takeover bid.
According to the article, the pre-packaged bankruptcy plan will eliminate about $4 billion in MGM debt, and replace managers with those from Spyglass Entertainment....
MGM said it has enough cash on hand to fund “normal business operations” throughout its bankruptcy,..

My question is, will this be used by the MPAA to lobby for harsher copyright sentences, due to the "obvious connection between piracy and this bankruptcy", or will they admit that, as the article states, "the company was hobbled with debt" after a 2005 buyout?

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