Business briefing

MGM seeking financing

Movie studio Metro-Goldwyn-Mayer Inc., which is controlled by private equity firms, is raising as much as $600 million to produce some of its biggest films, including "The Hobbit."

The financing will be completed in about three weeks, a spokesman for Los Angeles-based MGM said. He declined to discuss terms or investors.

The MGM fund includes "The Hobbit," being produced by "Lord of the Rings" director Peter Jackson, and "Pink Panther" movies starring Steve Martin.

ABC names creative exec

Walt Disney Co.'s ABC named television executive Barry Jossen executive vice president of creative to oversee the writers and producers who develop shows for the TV studio.

Jossen, who led the studio's production department for six years, replaces Julia Franz, who resigned in April, the unit of Burbank-based Disney said. He will report to ABC Studios President Mark Pedowitz.

CBS hires reality show executive

CBS Corp. hired Jennifer Bresnan to lead development of reality shows, replacing Ghen Maynard.

Bresnan, named senior vice president of alternative programming, will oversee reality shows such as "Survivor" and report to CBS Entertainment President Nina Tassler, the New York company said.

CBS hired Bresnan from the CW Network, where she supervised programs that included "America's Next Top Model."

TECHNOLOGY

Google to invest in geothermal

Google Inc. plans to invest $10.3 million in companies trying to generate power from underground heat sources, the latest attempt by the owner of the world's most popular Internet search engine to promote renewable energy.

Google.org, the company's philanthropic arm, will invest in two geothermal-technology companies, said Dan Reicher, director of Google.org's climate and energy initiatives.

The Mountain View, Calif., company also will give $500,000 to the geothermal lab at Southern Methodist University in Dallas.

APPAREL

Heelys rejects Skechers bid

Heelys Inc.'s board rejected Skechers USA Inc.'s offer to buy the company for $142.8 million.

The offering price of $5.25 a share "does not reflect the value of Heelys," the Carrollton, Texas, company said.

Skechers, based in Manhattan Beach, made its unsolicited bid for the company Aug. 13.

COURTS

Francis seeks to undo settlement

"Girls Gone Wild" entrepreneur Joe Francis wants a California court to rescind a settlement he claims a federal judge coerced him into signing.

Francis filed a lawsuit against the parents of three underage girls, aiming to vacate an agreement reached in Panama City, Fla., and get his payout returned. The girls were filmed there, and their parents subsequently sued Francis.

He agreed to settle the civil case after U.S. District Judge Richard Smoak jailed him in 2007 for contempt of court.

From Times Wire Services