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From Times Staff and Wire Reports
MGM Restructuring Approved: Directors of the Santa Monica studio and its owner, French bank Credit Lyonnais, approved the plan for a new Metro-Goldwyn-Mayer Inc. Credit Lyonnais is raising MGM’s credit line from $190 million to $400 million and will swallow the studio’s $820-million debt to the bank and $140 million borrowed to buy MGM bonds.
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