Bankruptcy | featured news

The GM IPO could wind up as the largest in history. Earlier this week, GM raised the high end of its initial price range from $29 to $33 and increased the number of shares it was offering from 365 million to 478 million common shares because investor demand was so high. Counting preferred stock issued by the company, the deal's value could top $23 billion.

American Media Inc, publisher of the National Enquirer and Star supermarket tabloids, on Wednesday filed for Chapter 11 bankruptcy protection.

The nation's economic stress fell in September to a 16-month low, thanks to more hiring in New England, fewer foreclosures in the mid-Atlantic and declining bankruptcy filings in the Southeast, according to The Associated Press' monthly analysis of conditions around the country.

In the midst of complicated financial restructuring following their bankruptcy claim, MGM has issued plans for the future of their flagship James Bond franchise, reports Bloomberg .

The next, currently-untitled, Bond film is planned for November 2012 and the article claims that sequels will follow every other year.

The 23rd entry in the franchise, the film was originally set to star returning actor Daniel Craig as Bond with Sam Mendes attached to direct. Though it is very likely that Craig will still return, there is not yet a confirmation of Mendes' continued involvement.

Hollywood studio Metro-Goldwyn-Mayer Inc., the home of James Bond, says it has filed for bankruptcy protection as the culmination of a long process to restructure its finances with the support of lenders.

Tribune Co. CEO Randy Michaels resigned Friday amid tales of raunchy behavior as one of America's biggest media companies looked to shift attention back to its efforts to emerge from bankruptcy protection. Hours later, the company filed its latest reorganization plan in court.

Executives from Spyglass Entertainment will take over the company once it emerges from bankruptcy.

Blockbuster Inc., once the dominant movie rental company in the U.S., filed for Chapter 11 bankruptcy protection on Thursday, reeling from mounting losses, rising debt and competitors that have better catered to Americans changed media habits.

Video rental giant Blockbuster is expected to file for Chapter 11 bankruptcy protection as early as today, the Wall Street Journal reported Wednesday, citing sources.

In a highly unusual move, the city of Harrisburg says it will not make a $3.3 million payment.