MGM has completed their restructuring, exited bankruptcy protection and has some cash in their coffers to hit the ground running. Does this mean there should be no financial trouble for The Hobbit: Part 1 and The Hobbit: Part 2? Does [...]
Read moreBankruptcy Court Approves MGM’s Reorganization Plan
Press Release: LOS ANGELES, CA, December 2, 2010 – Metro-Goldwyn-Mayer Inc. (“MGM”) today announced that the U.S. Bankruptcy Court for the Southern District of New York (the “Court”) has approved the company’s “pre-packaged” plan of reorganization (the “Plan”), clearing the way [...]
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Spyglass Entertainment To Take Over MGM
Metro-Goldwyn-Mayer Inc. (MGM) has announced that it has begun a solicitation of votes from its secured lenders for a pre-packaged plan of reorganization (the "Plan"). MGM expects to continue normal business operations throughout the restructuring process. The Plan provides for MGM's [...]
Read moreDisney Sells Miramax for $660 Million
Disney has sold Miramax Films to construction executive Ronald Tutor and Colony Capital For approximately $660 million. Disney put the former New York-based company up for sale earlier this year after folding it into its parent studio in Burbank. From the [...]
Read morePacificor Won The Rights To The TERMINATOR Series
Hedge fund Pacificor has won the rights to the Terminator series following a heated bidding war. The Santa Barbara-based firm, which lent the Halcyon Group money to buy the sci-fi property back in 2007, bid $29.5 million to secure the [...]
Read moreLIONSGATE Locked And Loaded, Sights On TERMINATOR Franchise
Lionsgate has stepped up as the leading bidder for the rights to the "Terminator" franchise with an offer of $15 million and a 5% cut of future gross receipts. The bid was disclosed Wednesday in a federal bankruptcy court filing [...]
Read moreDisney Buys Stake In Stan Lee’s POW! Entertainment
Just as the ink was drying on Disney's deal to acquire Marvel, it was also expanding its ties with POW! Entertainment, the company led by the man who once ran Marvel and co-created many of its signature characters, Stan Lee. [...]
Read moreIRON SKY Gets Partial Funding From Eurimages
Iron Sky is a feature-length science fiction comedy, from the creators of Star Wreck: In the Pirkinning (2005) and the producers of Jade Warrior (2006). The script is written by award-winning science fiction writer Johanna Sinisalo (“Not Before Sundown”), and [...]
Read moreCLASH OF THE TITANS Gets A Bigger Budget And Added Scenes
Sam Worthington says his next film, the remake of Clash of the Titans, is being rewarded with additional scenes and may be converted to 3D. Usually when cast and crew return to film re-shoots etc., it's often a sign of [...]
Read moreLenders Temporarily Extend The Lifespan of MGM
Just a few days ago, we told you that MGM was going to be put on the auction block, because the studio has accumulated almost $4 billion in debt, and they can't even pay the interest. It was reported that the [...]
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The End Of An Era: MGM May Hit The Auction Block
Back in September we told you about MGM's financial woes and their possible bankruptcy. Now, we have word from Variety that MGM, which boasts one of the best known logos in the entertainment business and a library of some 4,000 [...]
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MARVEL Profits Drop 60 Percent: What Kind of Mickey Mouse Operation Is This?
Marvel Entertainment Inc., the comic book publisher that agreed to be acquired by Walt Disney Co., reported third-quarter profit fell 60 percent on a drop in film revenue and licensing sales. Net income declined to $20.4 million, or 26 cents a [...]
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