So the bondhholders said to MGM, in essence, that they were going to let the studio go bankrupt and collect their money since they'd be first in line to get paid. But Cooper explained that this would be the worst possible outcome for the creditors and the company. Because if MGM were forced into bankruptcy, then it would lose James Bond and the studio doesn't think it can stay alive without 007. Also, a lot of other issues would surface that would tremendously hurt MGM.
Also, if MGM goes through bankruptcy, that's a very expensive prospect (where only the lawyers get rich), and extremely disruptive (since who would do business with MGM in the interim) and won't get the creditors what they want which is their money back. It's more than simply MGM losing Bond. The studio could lose a lot of other franchises.
Also, if MGM goes through bankruptcy, that's a very expensive prospect (where only the lawyers get rich), and extremely disruptive (since who would do business with MGM in the interim) and won't get the creditors what they want which is their money back. It's more than simply MGM losing Bond. The studio could lose a lot of other franchises.
to read more on MGM's financial situation.The Hobbit: An Unexpected Journey comes to theaters December 14th, 2012 and stars Cate Blanchett, Saoirse Ronan, Orlando Bloom, Elijah Wood, Martin Freeman, David Tennant, Ian McKellen, Christopher Lee. The film is directed by Peter Jackson.
Skyfall comes to theaters November 9th, 2012 and stars Ralph Fiennes, Daniel Craig, Javier Bardem, Naomie Harris, Judi Dench, Simon Russell Beale, Rhys Ifans, Helen McCrory. The film is directed by Sam Mendes.
Comments (25)
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kingbrady
jimthar, they havent even released a release date for JB23 where do you get November from? why doesnt Peter Jackson who is producing the Hobbit, and being under his Wingnut Films do the film under New Line Cinema like LOTR 1, 2 and 3. How in the world MGM grabbed this film away from New Line is beyond me, cause if i was New Line i would do anything and everything to make sure the Hobbit was under my name as the trilogy made tons of cash
2 years agoby @kingbradyFlag
Chad Vital
I hate money, ruins lives and makes people heartless.
2 years agoby @chad-vitalFlag
Jimthar
oh please. the james bond movies arent IN DANGER of anything. that movie WILL get made no matter what. it's too viable a franchise and too many people want to see the new ones for it to be in any real jeopardy. the JB movies will go on for years and years.
honestly, they should finish JB23 and release it. then take whatever profits they make on it and use it to pay off their loans. we all know that movie will rake in the cash in november so....
now the hobbit.....that one can be put on the back burner until the studio is in the clear. or maybe they should sell the rights to it and use that money to help the bills as well.
2 years agoby @jimtharFlag
Vanboy
Why can't Obama bail the studio out like he did the auto industry. He's pissing away enough money, it might as well go toward something WE like.
How about that Zany?
2 years agoby @vanboyFlag
Vanboy
Also Geoffrey Holder as Baron Samedi and Tee Hee played by Julius Harris.
2 years agoby @vanboyFlag
Vanboy
Fallen, There was Yaphet Kotto as Kananga/Mr. Big in "Live and Let Die"
2 years agoby @vanboyFlag
Carpface
MGM might "be in peril," but those I.P.s aren't. Considering they're surefire hits, they'll have money thrown at them from somewhere, if not MGM.
2 years agoby @carpfaceFlag
-comrade-
Sh*t.
2 years agoby @taberjohnson18Flag
Bawnian-Dexeus
what about the africans in casino royale?
they were bad guys
even though they weren'tthe main ones
2 years agoby @bawnian-dexeusFlag
AnnoyingFilmCritic
Maybe the bondholders are just using bankruptcy fear tactics to force MGM to capitulate more returns for them, like more stake in those and other franchise interests...The 2 part Hobbit & Bond 23 are surefire hits, seems that the risk is leverage manipulation.
2 years agoby @annoyingfilmcriticFlag
Diaigma
Well this isn't great news. The movies will get made someday, but dang. MGM going bankrupt? Wow. They're the oldest existing studio, aren't they? What a crying shame.
2 years agoby @diaigmaFlag
Null and Void.
Sheen might be playing Blofeld which would be amazing.
It really would be a damn shame if MGM went under.
2 years agoby @soylentgreenFlag
The Narrator: The Better Man
Is it me or have there not been any black Bond bad guys? There's pretty much always white nerds who order people around but can't fight for themselves. Lol. Just pointing out.
Aannnywaayysss... This f*cking sucks!
Okay I'm done.
But seriously Bond 23 sounds cool as long as they make up for Quantum which was a disappointment. Not bad but a disappointment. And the fact that MGM owns the Hobbit now...didn't Warner have the rights? Since they bough New Line Cinema??
2 years agoby @narratorFlag
kingbrady
i really enjoyed Casino Royale but Quantum was meh....i like the idea they doing for the new 1, im sure i heard Michael sheen for Bowfinger or whatever he is called
2 years agoby @kingbradyFlag
Mexicool
I could care less about a new Bond film... but The Hobbit!!!! DAMN IT!!!!!!!:(
2 years agoby @mexicoolFlag
penguin_9026
aintitcool has the story up
2 years agoby @penguin-9026Flag
J.A.Ottley.Writer / Director
hmmmm i heard that they only want to buy the Bond franchise for 100 million
2 years agoby @chronicFlag
Bawnian-Dexeus
i third that notion
2 years agoby @bawnian-dexeusFlag
penguin_9026
Just heard a rumor that WB is already in talks to buy most of the rights to films that MGM owns.
2 years agoby @penguin-9026Flag
Structure (ONSTRA)
true that.. i go with what kingbrady said...
2 years agoby @gaj1992Flag
kingbrady
well isnt MGM owned by a conglomerate?? like everything else is, i mean if MGM is independently owned, why doesnt WB or Sony or News Corp come in and buy it out and take the rights to the films as they know those 2 movies mentioned are destined to pull great numbers........i understand MGM and Bond go hand in hand but i doubt WB or someone would sit back and allow such franchises to be tarnished because MGM isnt as strong as it once was
2 years agoby @kingbradyFlag
ZanyZap
It's obviously Obama's fault. ;P
2 years agoby @zanyzapFlag
DarkTower19
third
2 years agoby @darktower19Flag
Bawnian-Dexeus
i second that notion
2 years agoby @bawnian-dexeusFlag
knobie09
FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUCK!!!!!!!!!!!!!!!!!!!!!!!!!!
2 years agoby @knobie09Flag