477 replies to this topic

[Mr. Somerset]

Sounds like movement is happening, I was afraid that no bids would come in, or that they'd all be so low as to be considered untenable.

Hopeful a deal evetually happens, and Bond 23 continues apace.

I couldn't agree more.

[danslittlefinger]

Blimey, it's like wading through concrete.

[Qwerty]

MGM buyer sure to seek bankruptcy plan

Several companies reportedly interested in 007 studio home

[Matt_13]

This good or bad news?

[RivenWinner]

well, I'm not going to pretend to understand all this sort of stuff, but I do know that pre-packaged bankruptcies have become popular in the past few years, as it's a way to get through the process in a fairly quicker fashion.

I suppose it seems logical, because who ever ends up purchasing the studio does not want to inherit the loads of debt and obligations MGM currently has.

That's about all I can offer; perhaps someone else can further clarify.

[danslittlefinger]

http://www.express.c...in-for-Far-East

NOW 007 COULD LEAVE BRITAIN FOR FAR EAST

A campaign has been launched to save James Bond from being outsourced to the Far East

Sunday January 24,2010
By James Murray

A CAMPAIGN has been launched to save James Bond from being outsourced to the Far East.


Pinewood Studios, home of the British film industry and where the 007 films starring Daniel Craig are made, could be moving abroad after it set up operations in Malaysia and Toronto.

Fears of another British institution falling under the spell of foreign interests increased after Cadbury’s was bought by US food giant Kraft. Now Labour MP Gisela Stuart is asking Business Secretary Lord Mandelson to refer the expansion of Pinewood Shepperton to the Competition Commission to see if the plans will damage Britain’s long-term national interests.

A local council last year rejected Pinewood’s application to build film sets on greenbelt land near the main studios at Iver Heath, Buckinghamshire.

The company later signed a deal with the Malaysian government to develop a massive studio complex in Iskandar, near Singapore. Called Pinewood Iskandar Malaysia Studios, the complex will provide more than 100,000 square feet of film sets and create 8,000 jobs. Building is due to finish by 2012.

Mrs Stuart says the expansion is “very disturbing”, particularly as she was hoping Pinewood would consider building on the virtually derelict Longbridge site near Birmingham.

She also wants Lord Mandelson to look into the company’s expansion in Canada. Under a five-year deal newly-built studios were renamed Pinewood Toronto Studios, with Pinewood earning fees based on the revenue performance of the studios.

Mrs Stuart, who will meet a representative of the Pinewood board this Wednesday to discuss her fears, said: “After what happened to Cadbury’s we must act to protect British companies and keep them in Britain.”

Pinewood corporate director Andrew Smith insisted there are no plans to move out of Britain. He said: “Film-making in the UK remains highly attractive.”

[DamnCoffee]

I bloody wish we could get some news already.

[Mr. Somerset]

I bloody wish we could get some news already.

As do I. I am learning the skill of patience. A class I'm not to keen to study, but a requirement nevertheless.

[RivenWinner]

Unrelated news, but:

Disney just shut down Miramax (which to me was unexpected). The Weinsteins are trying to buy the name back to their former company, but Disney honcho Bob Iger is open to selling Miramax outright for $1.5 billion.

I find it interesting how a small specialty studio like Miramax is basically worth what MGM is now. Sad, isn't? Course, once small studios like Lionsgate and Summit are bidding on MGM--a sign of how things have changed.

[Qwerty]

MGM studio gets extension on interest payments

James Bond studio given two month reprieve on debt payments

[Qwerty]

News Corp. said to offer cash, debt help to keep MGM running

Studio continues to evaluate preliminary bids

[Matt_13]

Seems to be some good news. Things are at the very least progressing.

[RivenWinner]

This latest article doesn't really elaborate why News Corp would do such a move. What do they gain from it?

Edited by RivenWinner, 31 January 2010 - 01:39 AM.

[zencat]

Interesting article. This is why I don't think any of us can really claim to understand what's going on. It's a financial quagmire. And I'm sure the Bond rights are a whole other layer of complication.

http://gawker.com/54...de-in-hollywood

[Trident]

Interesting article. This is why I don't think any of us can really claim to understand what's going on. It's a financial quagmire. And I'm sure the Bond rights are a whole other layer of complication.

http://gawker.com/54...de-in-hollywood

Most interesting article. Thanks for sharing!

...With MGM, however, the bankruptcy option presented a real problem since many of its intellectual property rights, including those to make sequels in the James Bond franchise, stipulate that in the event of bankruptcy they would automatically revert to another party...

Does that mean, bancruptcy of MGM leads automatically to the Bond rights falling back to EON? Or is this particular case scenario already sold seperately to another player I wonder?

[Qwerty]

Billionaire Len Blavatnik said to join bidding for MGM

Lions Gate, Time Warner, and Liberty Media Corp are among other bidders

[zencat]

Nikki says...

Insiders keep telling me that MGM "is Time Warner's to lose" given current bids...

[Qwerty]

Six potential MGM bidders eye its film library

May include Time Warner, Lions Gate Entertainment, Summit, Liberty Media and others

[zencat]

Another interesting article:

http://gawker.com/54...-the-mgm-fiasco

...the revenues from the 24 James Bond movies — which are the library's most valuable asset generating nearly 30% of its revenue — have to be split 50-50 with Danjaq LLC, the holding company for the Broccoli family that originally created the franchise. These participations and residuals (which is what the guilds get for their pension funds) totaled $235.2 million in 2010...

We should make this thread a sticky.

[Professor Dent]

Another interesting article:

http://gawker.com/54...-the-mgm-fiasco

This is way more complicated that I even imagined. Looks like they put way too many proverbial eggs in the Blu-ray basket.

The bet that the hedge funds made when they put up most of the equity for the $4.85 billion LBO in 2004 was that DVD revenue from the library would hugely increase when people replaced their standard DVDs with the Blu-Ray high-definition format that was just being introduced. But their projections proved to be pipe dreams. Instead of expanding, MGM's DVD revenue plummeted, according to the confidential memo.

[scaramunga]

Hopefully the situation with MGM will end soon. It would be nice to get on with Bond 23 and I would really like to get the other 9 Bond films on blu ray too.

Some very interesting info out there about MGM though.

[Qwerty]

MGM said to seek second round bids by mid-March

No firm bidding deadline set for James Bond studio

[Qwerty]

MGM sets deadline for receiving bids

James Bond studio may be near sale, restructuring

[Matt_13]

Fingers crossed that this is almost over.

[zencat]

I'm not going to hold my breath.

[DamnCoffee]

I'm seriously beginning to lose interest. They better resolve this soon, because it's getting tiresome.

[Mr. Somerset]

I'm feeling positive about this and am feeling that end of year start date the Dan-Man mentioned a few months ago may be accurate.

If i'm wrong, we can pull up this post sometime next with as we await news on B23's status and have a good laugh.....or cry.

[Qwerty]

MGM expected to draw six bids by 19 March

News Corp pulls out of bidding process for troubled James Bond studio

[zencat]

Latest from Nikki...

FINAL MGM BIDS DUE FRIDAY: So Who's In And Who's Out (Or Doesn't It Matter)?

Relevant line in story:

Sony said as recently as this week it still wants some role in the James Bond movies once there's a sale or restructuring -- but may have to fight off Fox.

As I think I've said (maybe even somewhere in this thread), at the end of the day I believe Sony will remain in the Bond business not matter what happens to MGM. Not just because Sony wants it, but I think Eon wants it as well.

[DamnCoffee]

Weren't the final bids meant to be in a month ago?