Has MGM finally found a way to keep roaring? Have the business power players of Hollywood finally found a way to shine light again on the studio? Will we ever see the next Bond film, and The Hobbit films? Apparently, there’s a chance we might.
The Los Angeles Times reports that Spyglass Entertainment bosses Gary Barber and Roger Birnbaum are poised to take over as co-chairmen and co-CEOs of MGM now that they’ve signed a non-binding letter of intent. There are also plans in motion for a recapitalization of the studio where MGM’s $4 billion in debt would be converted to equity as part of a bankruptcy arrangement.
“Under Barber and Birnbaum, MGM would need a large cash infusion to fund production of new movies including a planned James Bond sequel and two films based on The Hobbit to be co-financed with Warner Bros.,” according to the Times.
As part of the deal, Spyglass would essentially gut MGM’s labor force and make a deal with another studio to distribute their films domestically. Warners, Sony and Fox have all been mentioned in the past as potential new distributors. Warners is, as mentioned above, co-financing The Hobbit, while Sony distributed the last two Bond films with Daniel Craig and Fox distributes the Bond films on home video.
This is good news. I wouldn’t have wanted to see such a historic studio like MGM just fade away this decade. There’s too much rich film history here. I’m glad they’ve found a way to keep MGM running. Let’s hope these moves will help them make The Hobbit and the future Bond movies. Everyone is waiting for them. They will make a lot of money. I’m 100% of that.
You like this move? You want MGM to keep existing? You want The Hobbit? You want Bond sequels? Which one do you want to see more?
How did MGM get into $4 billion in debt? I hope another Bond movie gets made to make up for the underwhelming Quantum of Solace.
Is that even a question? I mean I love the bond movies (especially the new ones) but The Hobbit is an epic that would take the movie industry by storm. With one of the greatest story lines, the company that did the special effects for avatar, and Peter Jackson at the helm, one of the best directors of our time. The Hobbit needs to happen!
Hmm, that’s a really good question. Watched Quantum of Solace again the other night and I really like where they’re taking these new Bond movies. Honoring the originals but making it more up to date.
But, also re-watched Fellowship of the Ring recently, and with Peter Jackson at the wheel, Hobbit will be awesome.
Let’s just hope they have enough money to do all of the above … and soon.
Hobbit! Glad Peter Jackson is back in the directors seat. Can’t wait!
James Bond, will be made, just a matter of time. Everything that brings money in the bag will be produced. I just hope Daniel Craig will still be fit enough to embark on a new adventure. He still needs to wipe our memories of that dreadful Quantum of Solace, and that stupid title for which he’s responsible.
That has got to be the strangest questiona asked in TMB history.
“1. Do we want MGM to keep running?
2. Do we want the Hobbit?
Hmmmm…let me think it over…
hobbit all the way, bond is good but after watching all 15 million i want to see something else more
Bond!