MGM on the Auction Block Soon?

Here’s something for everyone of you out there who were saving up for the TERMINATOR franchise but just couldn’t quite pick up the funds.   Variety is reporting that MGM may be putting itself out to the display window, and an auction on the studios library and logo may be occurring in the next couple of weeks.   A third auction for United Artists may be planned, as well.

The company has been going through major upheavals since CEO Harry Sloan was bumped from his position last Summer.   A restructuring of the company were attempted, but, it appears, the total assets of the company may end up being worth as little as $1.5 billion.

While some bondholders have stated they have not been contacted yet, a sale of the company would require a two-thirds majority vote.   Time Warner is expected to make a last minute bid.

MGM has been struggling for quite some time with only the James Bond franchise as a major player.   What this means for BOND 23 is anyone’s guess, but someone could, possibly, step in to take over marketing and distribution duties.   There is no telling where this will leave the other films on MGM’s upcoming slate including the RED DAWN and POLTERGEIST remakes and the two HOBBIT films.