MGM Down, But Not Out!

MGM has just finished remaking itself with what one may call a “stimulus” fund of $500 million. So, what does that buy a major studio that nearly went under? It gives them a green light to continue making movie, hopefully good ones. While that’s a lot of dough, the very first film that’s expected to be on their comeback list is the 23rd entry into the James Bond franchise.

With 007 being the most likely candidate as MGM’s phoenix rising return to the box office, the big question is whether Daniel Craig will return to reprise the role of the British agent. Parallel to this, MGM has apparently been planning a possible year-long, 50th anniversary commemoration of DR. NO, the first “official” film in the James Bond franchise. (Some folks still like to consider 1966 version of CASINO ROYALE, but they’re few and not normally taken seriously.

Spyglass Entertainment’s Gary Barber and Roger Birnbaum, who will both serve as co-chairs and CEO, had this to say about the MGM scenario:

“MGM is emerging from one of the most challenging periods of its storied history,” the duo said. “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.”

MGM is reportedly also planning to request an additional loan of more than $250 million for THE HOBBIT. Boy, I sure hope that loan goes through, but we’ll have to wait and see. Nothing is set in stone, so time will tell for Bond and Bilbo, then maybe with success we’ll start hearing about more projects in the works. As for what’s likely to hit screens first, the remake of RED DAWN, Joss Wehdon’s CABIN IN THE WOODS and the film ZOOKEEPER are among films now ready to be released.

Source: Variety