You won't be able to see the show from a popular place this …
A artist's rendering of Raleigh Michigan Studios.
ALERTS
Two teenagers with a troubled past... One was shot and killed …
A surprise announcement from the City of Detroit today say that…
Police are looking for 2 dangerous men tonight after they fired…
She survived a brutal attack, only to find that the man who …
State: Film Studio Fails to Make Bond Payment
Updated: Tuesday, 14 Feb 2012, 8:29 AM EST
Published : Tuesday, 14 Feb 2012, 8:29 AM EST
PONTIAC, Mich. - The state says an $80 million film studio that opened last year in Pontiac at the site of a former General Motors complex has failed to make a $630,000 payment to bondholders.
The Oakland Press of Pontiac reports Tuesday that the State of Michigan Retirement System paid $420,000 of the payment on Raleigh Studios' facility under an agreement that guaranteed the bonds.
Michigan Department of Treasury spokesman Terry Stanton says in an email to the newspaper that Raleigh Studios wasn't able to make the $630,000 payment to bondholders by Feb. 1 as required.
An email seeking comment from Raleigh Studios was sent Tuesday morning by The Associated Press.
Advertisement
Advertisement