Movies
MGM
The Hollywood Reporter claims that the proposal would see MGM lenders receive a 55% stake in the newly-joined company.
The proposal by Lionsgate still has to be approved by MGM's lenders with a decision due to be reached by the end of the month.
It was reported earlier this year that Lionsgate had pulled out of negotiations to purchase MGM after failing to agree on a sale price.
MGM announced plans last week to vote for Chapter 11 bankruptcy in an effort to resolve its $4 billion debt, in a deal which would see Spyglass Entertainment gain a 5% stake in the company as an operating partner.
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