MGM’s bankruptcy, I died a little. It’s not like I’m saying anything revolutionary when I say it was probably the worst time for
the franchise to take a break. Argue the quality of Quantum of Solace all you want, but they were still coasting on the goodwill of Casino Royale. They were on a hot streak. So, when MGM officially announced they’re officially out of bankruptcy officially, I was officially happy. Officially.
According to a press release posted on Deadline Hollywood, the company is finally emerging
out of bankruptcy. Former Spyglass Entertainment heads Roger Birnbaum and Gary Barber are now set as the new co-chairs of Metro Goldwyn Mayer. The company has also raised roughly $500 million in order to fund studio operations (i.e. development deals, actual production on film and television, etc.).
“We are honored and inspired at the opportunity of leading one of
Hollywood’s most iconic studios into its next generation of
unforgettable filmmaking, global television production and distribution,
and aggressively pursuing, developing and exploiting new digital
entertainment platforms,” said Birnbaum and Barber in the joint statement. “Beginning today, MGM is a stronger, more competitive company, with a solid financial foundation and a bright future”
What is personally interesting to me is the number in the story. MGM has $500 million to work with. Quantum, while co-financed by Sony, still cost in the ballpark of $225 million. While MGM’s probably going to get films like Red Dawn and Cabin in the Woods distributed so they can get some cash back, $500 million on the outset doesn’t sound like much. As opposed to the other option of absolutely no cash, though, $500 million is a much better option.
15 comments
This is good news. I still maintain that Casino Royale was superb and Quantum was dull-as-dishwater.
I'm thankful this is finally happening. Quantum of Solace was not as good as Casino Royale, it's true, but it was still a damn sight better than most of the dreck that preceded it during the Brosnan era.
Now that they've got some cash, maybe they can finally greenlight those Stargate SG1 and Atlantis movies they've been talking about for damn near two years. Unfortunately, now that Universe has been cancelled on a cliffhanger, I suppose we should add them to the list too. And maybe a fourth tv series while they're at it…
Clem, please shut up.
Given the choice, i'd take the $500mill.
Why should I shut up? What's wrong with Stargate?
If there's anything MGM shouldn't pursue, it's another one of those godawful Daniel Craig Bond films. He's worse than George Lazenby and that's saying something.
This is very good news. I just hope that they don't decide to start a fire under that Poltergeist remake.
Clem, please kill yourself, or I'm going to come down your chimney this weekend and shit on your face.
Add another voice of support for the Atlantis movie at least. They cancelled the show on the promise of DTV movies to finish it off, and no movies in sight yet.
Casino Royale was awesome, Quantum of Solace was a Jason Bourne flick.
Ooooh weee! Can you guys feel that? I can feel the tension all the way down to my plums.
Sweet. Hope they make a new Robocop, and not only because I have a vested interest in it.
Plumbs! He he. Plumbs. He said plumbs!
I have trouble remembering what Quantum of Solace was even about… something to do with Serge Gainsbourg, I think…
Quantum Of Solace is great. Watch it again.
Watch Casino Royale and Quantum of Solace back-to-back and it is great!
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