MGM DEBT HAS BEEN RESOLVED!

Discussion in 'DVD' started by SWFF, Sep 17, 2010.

  1. Worth

    Worth Screenwriter

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    Eon denies any involvement with the counter-offer and MGM remains committed to Sypglass:

     

    http://www.deadline.com/2010/09/the-latest-twist-in-mgm-saga-unfolds-in-india/

     

    http://www.deadline.com/2010/09/memo-mgm-not-veering-from-spyglass/
     
  2. ahollis

    ahollis Producer

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    If you look 5 posts above (#17) you will know that the memo went out to MGM folks yesterday. The Eon news that they are involved not just supportive is from today. I feel that they are involved for everyone is denying it. (I live by the fact if you deny there is some truth).

     

    The Spyglass deal is the better deal for the longevity of the company as a production company. The management team is right to focus on new productions and leave the distribution and marketing to an outside company. However, this is not good news for the people that want more cult titles on DVD. The new management would not be that interested in the library very quickly and would more or less ignore it until times were better, two or three years.
     
  3. ahollis

    ahollis Producer

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    It appears the Time-Warner has gone back to the debt holders and has offered to raise their bid from 1.5 billion to 1.7 billion. There are two outcomes floating around, one is that the debt holders turned it down and still to low or two, this was not a formal offer, but an offer to start discussions again with Time-Warner possibly going as high as the elusive 2 billion wanted.
     
  4. SWFF

    SWFF Screenwriter

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    I think, I'd rather see Time-Warner take possession of MGM's back catalog. I have no reason why I should think this, but I feel they might be more empathetic towards those genre flicks I want so badly to be released on DVD, or DVD-R, as the case may be.
     
  5. ahollis

    ahollis Producer

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    I think that this is everyone's wish. My only concern is that Warner's has so much library titles, that how many more can they absorb.
     
  6. Trevor824

    Trevor824 Extra

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    For DVD fans, Time Warner's acquiring MGM is the only outcome that you should wish for.


    If another company takes over MGM (like Spyglass) it is going to be like it has been for the past decade. There are going to be a few films released, and then it is going to have more financial difficulties and fail again. Anyone remember when Francis Ford Coppola was effectively running the studio a decade ago? That didn't last long.

    Time Warner has the money to buy it, they have the DVD arm, they are the only studio that seems to care about back catalogue titles (in both the Archive as well as standard DVD), they want to get THE HOBBIT going, it will be a natural fit.


    Good luck Time Warner!


    EDIT: According to the Wall Street Journal, the story about Time revising their bid is incorrect.

    Oh well.
     
  7. Richard--W

    Richard--W Banned

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    I don't want to see Time-Warner acquiring and controlling MGM.


    Time-Warner is big enough already. They don't need to get any bigger.

    They have too much control over too many literary and cinematic properties, and every film and program they make reflects the same corporate sensibility.


    I would like to see a different vision and hear a different voice from MGM and its new owners, whoever they turn out to be.
     
  8. GMpasqua

    GMpasqua Screenwriter

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    Warner's catalog is too big already. If they were to get MGM, fewer titles would come out than if another company stepped in. I would hope MGM can resolve their own financial problems themself.


    It might even be wise to have FOX take over the home entertainment section
     
  9. Stephen_J_H

    Stephen_J_H All Things Film Junkie
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    Spyglass has a decent record as a production company (relatively few bombs, although some higher profile ones); there's no reason to believe they couldn't get the production arm of MGM back up and running. As for home entertainment, that's going to take a little longer, and they may wind up selling off the library to generate much-needed revenue. Not what anyone here wants to hear, but they may take up Warner's offer on the library for a cash infusion.
     
  10. cineMANIAC

    cineMANIAC Cinematographer
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    Wouldn't it be awesome if someone who actually appreciates film as a form of art ran MGM and not another faceless corporation only interested in profits or expanding their portfolio? You'd have to go back in time to the 30's to find someone like that.
     
  11. SWFF

    SWFF Screenwriter

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    Right now, I'm just trying to take a guess on how many years we're gonna have to wait for THE QUATERMASS XPERIMENT, or BLOOD ON SATAN'S CLAW, or CREATURE to become available on a DVD-like device.
     
  12. AlanBrom

    AlanBrom Second Unit

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    Or even the MGM of six or seven years ago, when they actually released library titles on DVD in mostly excellent transfers with extra features to boot. Or the Fox-controlled MGM of about three years ago, when they were doing the same. Now, MGM/Fox is no longer interested in releasing untapped library titles on DVD, just their repacked Multifeature sets which I imagine is just to get retailers to bite, and not appeasing us diehard movie fans.
     
  13. GMpasqua

    GMpasqua Screenwriter

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    MGM should go into partnership with FOX on the Home Video side. FOX used to distribute the UA library back in the 80/early 90s when they were with CBS. FOX already distributes for MGM now, cutting them in on the profits would make sense, and MGM would still get to keep their library (Which is really all they have that's of any value).


    The production side can go to a different company
     
  14. Dick

    Dick Producer

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  15. ahollis

    ahollis Producer

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    And would Fox do any better with the Library. Fox can't even celebrate their 75th Anniversary without just re-releasing titles. And yes I know about Cavalcade the Kazan films, but you have to purchase titles you already have to get those. Since Fox has release control of the MGM titles, could it be that Fox is the one that has slowed down the catalog dtitles released for both companies? Both companies went sour with older titles at the same time.
     
  16. SWFF

    SWFF Screenwriter

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    Don't fret, I am well aware of regionless players, had plans of getting one last December, even bought that supposed immaculate version of ARMY OF DARKNESS in preperation, then my cat puked onto the back of my tube TV and shorted it out. Had to get a new one, and decided to finally go HD. Still have plans to acquire a regionless player, but this year I'm focusing on getting a DVD recorder/VCR. My VCR is ancient and I'd like to start recording on DVD. Then, perhaps, next year, (money allowing), I want to acquire a regionless blu-ray player.


    Yeah, I know, the UK has a lot of nice looking and anamorphic flicks we have yet to get over here.
     
  17. Charles Smith

    Charles Smith Extremely Talented Member
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    Wow. One heckuva post, Dick. I have a good player and some of those titles, but there are obviously many I have yet to learn about.
     
  18. Nebiroth

    Nebiroth Supporting Actor

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    Remember when you're buying a regionless Blu-Ray player that some of them are only regionless when they play DVD. There are truly regionless ones, ie, ones that will play Blu-Rays from any region as well but they are rarer (and more expensive).


    Even here in the UK, where regionless is way more common due to the desirability of the vast r1 library, truly regionless BluRays aren't that common - probably due to a mix of factors, being:


    The players are tougher to crack


    The market is still smaller


    There are far fewer BluRay discs everywhere, and many of them are big budget releases that are available in all regions anyway


    Lots of discs aren't region coded


    I just wish the studios would give up on this dumbass region stuff. The days when they could control everything are long gone anyway, and I'm willing to bet that if DVD held up to the original concept (ie, a disc that was from anywhere would play anywhere in any player) it would cut down on piracy as well.


    Regions was a last minute addon so that's why it was so easy to break it!
     
  19. ahollis

    ahollis Producer

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    MGM has formally named Spyglass partners Gary Barber and Roger Birnbaum its new chairmen/CEOsThey don't officially take office until MGM emerges from bankruptcy. This is part of the long expected restructuring plan, as MGM brass has begun to solicit votes from lenders to convert 100% of the debut to equity, once they emerge from Chapter 11. The lenders will have until October 22 to vote. They don't officially take office until MGM emerges from bankruptcy. This is part of the long expected restructuring plan, as MGM brass has begun to solicit votes from lenders to convert 100% of the debut to equity, once they emerge from Chapter 11. The lenders will have until October 22 to vote. . ,, , .


    They don't officially take office until MGM emerges from bankruptcy. This is part of the long expected restructuring plan, as MGM brass has begun to solicit votes from lenders to convert 100% of the debut to equity, once they emerge from Chapter 11. The lenders will have until October 22 to vote.


    The announcement did not say what would become of the distribution and marketing divisions, but it has been hinted that they will be closed and MGM will be just a production company with distribution and marketing handled by another company. Variety says they intend to focus on cable TV series and reality shows along with feature films. There will be three divisions, Film, Television and Digital. I would assume that Digital would include the film library, but nothing has been said of that.

    MGM is to emerge from Chapter 11 debt free and ready to start producing 30 days after declaring bankruptcy. So we should know something more by the first of year concerning the new James Bond and The Hobbit.

    If they do put the Library in the Digital division, that is a sign of downloading and streaming titles, but I would at least also hope that they will set up some sort of MOD program, perhaps with Fox. I do not see them starting to release deep vault titles on Standard DVD. The only hope is releasing some of the more popular titles on Blu-ray such as rest of the Bond films.
     
  20. SWFF

    SWFF Screenwriter

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    I'm not sure how to take this news. I wanted Warner, but, maybe, something good might come of this for us genre lovers.

    I'm still numb, I guess . . .
     

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