MGM

MGM has been offered $500 million by Ryan Kavanaugh’s Relativity Media LLC and Ridley and Tony Scott express their interest in running the studio.

MGM’s steering committee has presented a plan to creditors to go it alone after bids came in disappointingly low.

Three potential backers are understood to have participated in the second round of bidding for MGM, which closed yesterday after being extended from Friday 19th March. Lions Gate Entertainment, Time Warner and Access Industries are all understood to have participated in the auction, although the offers they have made fall some way short of what […]

Friday 19th March is the deadline for bids for troubled studio MGM. Six bidders were invited to take part, including Time Warner and Lionsgate, although it appears that two others – Liberty Media Corp. and hedge fund Elliott Management Corp. – have withdrawn. While pre-production on Bond 23 was put on hold until the auction […]

According to a story posted in Variety yesterday troubled Hollywood studio MGM has set March 19th as the closing date for bids on its assets. Six bidders were invited to participate in this second round of bidding after allowing them access to internal accounts. Two of these bidders are believed to be Time Warner and […]

With the deadline for first round bidding on MGM having now passed, it’s looking increasingly like the studio will be forced into Chapter 11 and an uncertain timescale for Bond 23 to get underway. While the studio received several bids, unnamed insiders say they will almost certainly require operating MGM without the current debt obligations […]

The first round of bidding for troubled MGM are is due to end at the end of the week according to the Wall Street Journal, with around a dozen serious bidders wanting to pick up the scraps of the studio. The bids are far below the $3.7 billion owed to MGM’s banks according to sources […]

Sam Mendes is on the verge of signing for Bond 23 according to the Hollywood Reporter and reported on MI6 with production possibly starting as early as June, contradicting reports earlier this week that work on the film was on hold due to the sale of MGM. Mendes’ best known film to date is American […]

Bond 23 screenwriter Peter Morgan has apparently revealed that the plot of the next James Bond film will be “shocking” according to an article in Austian news site Kurier. He revealed that he worked on the script between July and October but work has been put on hold at least until February due to the […]

Variety published an article on Sunday regarding the survival struggling studio MGM, crippled by $3.7 billion debt. The studio is currently is the early stages of being auctioned off, with debt repayments suspended for now and one possibility that MGM is broken up and its assets – including the James Bond back catalogue – are […]