MGM/UA
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MGM Lenders Vote on Reorg, SpyGlass Chiefs Barber and Birnbaum Take Over After Chapter 11
Thursday, MGM started to solicit votes from its secured lenders for its planned reorganization. MGM will continue to do business during its restructuring process, such as it is. When MGM comes out from Chapter 11, SpyGlass co-chairman and CEO Roger Birnbaum and Gary Berber will emerge as co-chairman...
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Director Watch: Snyder Takes Superman, Gilroy on Bourne 4, Hobbit Inches Closer, Luhrmann Goes Glee
- Superman has a new daddy: Zack Snyder (300, Watchmen) will direct Warner Bros' franchise revival, with Christopher Nolan and Emma Thomas producing--the dynamic duo that rebooted Batman. Nolan came up with the story; Batman Begins scribe David S. Goyer wrote the screenplay, which brings back villain General Zod. “I feel super awesome,” Snyder told the LAT, while admitting that he lies awake at night thinking of how his Superman - who "has to be a man" - will be recreated. No boys need apply for the job; this is a the "biggest and baddest of them all," Snyder says, "The greatest of them all, right? We all want to know how the next chapter tak...
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Will MGM Go Asian?
The Wall Street Journal reports that Indian conglomerate Sahara India Pariwar is in exploratory talks to buy MGM for more than $2 billion, according to one source:
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MGM's Future Comes Due: Spyglass Closing Deal
Time is running out on MGM, which has staved off six debt payments and owes another in September.
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Mid-Summer Box Office Wrap: Top Ten Chart, Studio Report Card
At mid-summer, the box office is lagging just behind last year's pace and ticket sales are flat, reports Anthony D'Alessandro, who charts the season's winners, losers and studio market shares so far (as of last weekend). Will red-hot Inception take the number one box office crown from Toy Story 3? S...
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The Hobbit Could Lose McKellen, Movie House Revivals, Lautner's Muscles
-Even with Peter Jackson prepared to take over the directing helm, continued delays on The Hobbit put the cast's availability at risk. Even the film's Gandalf, Ian McKellen, is under no contract to appear in The Hobbit, the veteran actor revealed in an interview with New Zealand's Good Morning. He said his time is "running out," and he is actually more interested in working the theater. "Frankly, I would like to race after doing Waiting For Godot, get on with doing another play but we'll have to see. I don't give the producers the impression that I'm sitting waiting." One possible save-the-day scenario would see debt-ridden MGM selling the ri...
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MGM in Flux, Jackson Wants Hobbits, Weinsteins Lose Library, Ortenberg to Apparition
There's a lot going on in Hollywood this summer, as the economy and DVD declines continue to take their toll on several struggling distributors, from MGM and Lionsgate to the Weinstein Co., Overture and Apparition. MGM is in flux, as it struggles to pull itself back from the brink of bankruptcy and ...
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Cameron Speculation, Bond Stall Releases Craig and Mendes, Perry Loses Carey, Nolan Loves Bond
In the constant push for site traffic, James Cameron provides a reliable news headline, what with the BP "morons" thing, and the lingering impact of the ultimate blockbuster, the 3D Avatar. The tiniest indication of directional change for Cameron's next project is enough to fuel endless speculation....
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Who Will Direct The Hobbit, With Del Toro Moving On? Not Jackson, for Now
Soon after revealing that he was waiting for the dust to clear at MGM so he could get on with The Hobbit, Guillermo del Toro, one of Hollywood's hottest directors after Pan's Labyrinth and Hell Boy 2, is quitting The Hobbit because he can't keep his career on hold any longer; he's already been on th...
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The Hobbit and Next James Bond Await MGM Picks to Run Studio
With MGM creditors calling the shots and debating the future of the studio with MGM management, the cold reality is that no one is going to buy MGM at the valuation the studio needs as it copes with its $3.7 billion debt load. Thus the next phase of MGM's reorganization will likely involve bringing in some entity to exchange some debt for equity and run the studio. Top of the list of possible partners are Spyglass, Summit and the guy who thought up this solution, Amir Malin of Qualia Capital, a private media and entertainment equity fund. He made an offer to infuse MGM with some $500 million to run a lean operation in hopes that the economy a...
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