Embattled movie studio Metro-Goldwyn-Mayer Inc. has received temporary relief on making interest payments of nearly $4 billion in debt.

The debt-burdened studio said Thursday that its lending group will grant it some reprieve, allowing the company to skip interest payments coming due at the end of September, October, and November. The agreement expires on Dec. 15, when its next interest payment comes due.

The studio said that the new agreement “provides MGM with additional liquidity as discussions continue regarding the development of an optimal capital structure in support of the Company’s long-term business plan.”

MGM currently labors under $3.7 billion in debt that comes due in 2012. Interest payments are about $250 million a year. The forbearance agreement will allow the studio some time to implement a future business plan.

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