Metro-Goldwyn-Mayer filed for Chapter 11 protection in New York on Wednesday morning as part of a prearranged reorganization plan with creditors.

As previously reported by The Am Law Daily, MGM is being advised in Chapter 11 proceedings by Skadden, Arps, Slate, Meagher & Flom and Los Angeles bankruptcy boutique Klee, Tuchin, Bogdanoff & Stern.