MGM creditors to dicuss standalone plan-sources

NEW YORK, March 26 (Reuters) - Metro-Goldwyn-Mayer's steering committee will meet with creditors to present a standalone plan for the famed studio next week, sources familiar with the matter said.

Disappointed with the bids that came in for MGM, the creditors will present the plan in Los Angeles on Thursday, the sources said. The plan, which abandons the idea of a sale of the entire company, involves a mandate to make six to eight movies a year and would require large amounts of capital, the sources said.

It also involves filing for a pre-arranged bankruptcy, the sources added. Such a plan would need approval from a majority of the creditors.

MGM declined comment.

(Reporting by Jui Chakravorty and Megan Davies; additional reporting by Emily Chasan; Editing by Bernard Orr)