[Movies] Spyglass Entertainment Bosses Take Over MGM
Posted by Steve Cook on 09.08.2010
The struggling movie studio may have hope...
MGM is going to have new bosses very soon, and that could lead to good things for projects like James Bond 23 & The Hobbit that will desperately need money to get off the ground. Gary Barber and Roger Birnbaum of Spyglass Entertainment will be co-chairmen and co-CEOs of MGM now that they've signed a non-binding letter of intent. MGM's $4 billion in debt would be converted to equity as part of a bankruptcy arrangement.
Under the plan, Spyglass would gut MGM's labor force and make a deal with somebody else to distribute their films domestically. Warner Brothers, Sony, Fox & Paramount are all under consideration.
PLEASE let this happen. Let ANYTHING that gets their movie catalog up and running again happen.
Posted By: Outlaw (Guest) on September 08, 2010 at 10:18 PM
does this mean we get to see red dawn
Posted By: Guest#5717 (Guest) on September 08, 2010 at 11:35 PM
I really hope all goes well because we could really use high quality series like Bond and The Hobbit to get something new on the screen with all the crap out there lately. I've been going through quality withdrawal and both series could be the cure.
Posted By: filmguy (Guest) on September 09, 2010 at 01:41 AM
keep bond away from Fox. that's all I ask.
Posted By: Guest#0642 (Guest) on September 09, 2010 at 10:40 AM
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