When MGM exits bankruptcy next month, its new-look board of directors will include a few more media veterans. Jason Hirschhorn, who was recently the co-president of MySpace, and former CBS Corp chief financial officer Frederic Reynolds will be part of the 9 person board, joining new MGM bosses Gary Barber and Roger Birnbaum along with representatives of creditors that helped restructure the company. Two board spots have yet to be filled, and one of those will be chosen by Carl Icahn, who just unveiled his Lionsgate board and who has in recent months amassed 18% of MGM’s debt. The appointments of Hirschhorn and Reynolds tap into MGM’s attempt to leverage its extensive film library while managing its release slate, which will supposedly be around 7-8 films per year starting in 2012. Reynolds will bring his traditional media experience to the company, while Hirschhorn, prior to Facebook, was president of entertainment for Sling Media and chief digital officer for MTV Networks. December 2 is the day on which the bankruptcy court is expected to approve MGM’s reorganization plan.
MGM's Post-Bankruptcy Board Takes Shape
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