MGM-Pathe Makes Late Bond Payment: MGM-Pathe Communications...
From Times Staff and Wire Reports
MGM-Pathe Makes Late Bond Payment: MGM-Pathe Communications Co. said it made a late interest payment of $26 million on $400 million of its bonds. The payment had been due on Dec. 15, but MGM-Pathe delayed the payment, saying it was using cash to pay overdue bills from its vendors instead. The film studio was formed when Pathe Communications Co. bought MGM/UA Communications Co. for about $1.3 billion last November.
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