Magna Ent. filed this news release as its second bi-weekly default status report. As a debtor-in-possession under the United States Bankruptcy Code, the firm will not issue a 2008 yearly fiscal report or a Q1 2009 report. The filing of this press release occurred after the two-week period following the company's last status report pending its agreement to terminate MI Development Inc.'s stalking horse bid to acquire certain assets of the company, and the final order of the U.S. Bankruptcy Court approving the company's debtor-in-possession financing, all of which was announced by MEC on April 22, 2009.
Rick DeMott
Animation World Network
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