Investors in the bankrupt and deeply troubled Tribune Company have sued the banks that arranged for billions in financing for the media outlet. According to the documents, the banks arranged for the financing knowing that the company would never be able to repay the massive debt. This is the latest in the ongoing drama that […]
Struggling movie studio MGM has won approval for their bankruptcy plan that will not include a possible merger with Lions Gate Entertainment. Under the terms of the agreement, Spyglass Entertainment will take the helm of MGM. This plan has been approved by majority shareholder Carl Icahn. However, he has been the major push for Lions […]
LimeWire, the popular file sharing service on the web has been officially ordered to close after a suit was filed in open court. A US district court judge declared that the site and its software violated US and international copyright laws and could not legally continue with the file sharing service. LimeWire has been fighting these […]