Tony, Ridley Scott to aid ailing MGM?

Tony and Ridley Scott are to come to the assistance of the beleaguered MGM, says the Financial Times.

The director brothers, who have separately been responsible for movies such as Alien, Top Gun and Gladiator, are believed to have submitted a restructuring plan to the studio's creditors and have also proposed taking over MGM's management. The firm currently faces a $3.7bn (£2.25bn) debt.

A recent attempt by the creditors to auction off the historic studio, whose assets include a film library of over 4,000 titles as well as rights to the James Bond and Hobbit franchises, failed to accrue any significant interest.

The Scotts currently run their own production house Scott Free, although it is not clear whether the pair's aims for reorder include combining the company with MGM.

Last month, the studio was given a fourth extension on its payment deadline.