LoeffelholzThe United States, With LovePosts: 8,998Quartermasters
You're ruining my zen, man X-( )
Check out my Amazon author page!Mark Loeffelholz
"I am not an entrant in the Shakespeare Stakes." - Ian Fleming
"Screw 'em." - Daniel Craig, The Best James Bond EverTM
Unfortunately, I don't think the May deadline is any magical date. Payments from MGM were pushed back to that date, while the gentleman (whose name escapes me at the moment) works on a plan for restructuring. All of the reports that I read don't expect any real decisions to be made until 'several weeks'. My fear is that if MGM is not purchased (which is looking more and more likely that it won't be) than the properties have to be sold. If that happens, I'm expecting loooooong delays while the creditors wrangle over who gets what.
That would decrease the already decreased value of the creditors' investments (I've read that in the last couple years, every dollar invested in MGM has devalued to about .50 cents now ). Not sure the effort of a long wrangle over properties will be worth it for most of the creditors, especially if a Sony puts a decent enough deal on the table. Cut and run will likely be the better option. The creditors may be able to nudge Sony's (just going with the obvious) offer up a bit, but highly doubt they can outlast a Bondless wasteland of rocketing attorney fees.
Jus to throw another little wrinkle into this mess, it now seems that production on the Hobbit, MGM's other tentpole has not been halted. According to Moviefone Peter Jackson himself has said the script was holding up production and now that it has been delivered he is expecting to begin production in October or November. (The full article is here).
This would seem further proof that EON's suspension of Bond 23 has more to do with them not wanting to have anything to do with MGM than that company's financial woes and it looks like the producers of the Hobbit didn't want to play EON's game after all.
MGM has always been loathe to liquidate itself and has managed to claw and gasp its way thru numerous bankruptcies in the past. Their refusal to accept WB's $1.5 billion buyout offer would suggest they still want to exist as an independent studio and if MGM does indeed now have the Hobbit to fall back on, Bond's hiatus could last even longer.
Or just get another actor if indeed it takes 6 years for Bond 23 anything past 2 years and Im pretty sure DC wont be returning but who knows this time next year filming might be underway.
This would seem further proof that EON's suspension of Bond 23 has more to do with them not wanting to have anything to do with MGM than that company's financial woes and it looks like the producers of the Hobbit didn't want to play EON's game after all.
My impression that the halting of production was indeed just that...a desire to not cooperate with MGM. Halting production lessens MGMs appeal to any suitors, since it means a delay in any Bond revenue. Such a move seems to imply that Eon is less interested in making a Bond movie and is more interested in establishing a new studio relationship...which is why I fear a longer delay than necessary is coming.
Jackson completely ignores MGM's situation in talking about the studio hopefully greenlighting the script, not sure what to make of his comments, not even sure he meant MGM (New Line is co-producing, perhaps that's the "studio" he refers to in the article? MGM is inserted in brackets by the article's writer, kinda confusing).
NOW'S the time for doing that pre-credits sequence with a young Craig, cutting to 'six years later' after the song, so it looks realistic...
LOL well played
If this drags out too long they could wind up missing the great marketing possibility of a 2012 release. And IMO, that would be too good to pass up.
PPK 7.65mmSaratoga Springs NY USAPosts: 1,253MI6 Agent
I am pretty sure that Micheal Wilson and Barbara Broccoli are not going to keep us waiting for too long. I am guessing that by the end of summer, the MGM situation will be done with and production can resume.
This situation is such garbage...what a disaster. Just when the Bond franchise was picking up steam again, this has to go and happen. And I think that DC was giving one of the strongest performances of Bond in a long time. A really hope that a solution presents itself within the earliest of delays so that things can get on track, avoid having another unwarranted delay and avoid losing DC. It's too bad that the fundamental reason as to why this movie isn't being made is that it won't generate enough money for MGM. Which is sad in itself as a worldwide gross would probably be in the amount of $500,000,000.00...
I am pretty sure that Micheal Wilson and Barbara Broccoli are not going to keep us waiting for too long. I am guessing that by the end of summer, the MGM situation will be done with and production can resume.
I sure hope so. With each passing day I get more and more depressed that I may never see Craig as Bond again. He may not be my favorite Bond actor (probably #3 on the list), but I would like him to do one more in full blown Bond style.
Then, maybe, for 24 a new Bond could emerge...but don't cut him out after two fantastic performances! And for that matter, especially not over such a stupid debaucle
We are facing the dark ages of Bond again, for the 3rd time.
The first one was between 1989-1995, between LTK and GE. Dalton surprised the fans in April 1994 that he won't return. Brosnan was announced as the 5th 007 two months after. The second one was between 2002-2006 or between DAD and CR. At least Brosnan did a Bond video game called Everything or Nothing in 2004. It was considered his fifth Bond film. The third one would probably last until 2012. Let's hope that Bond 23 will be Daniel Craig's last movie.
The even-numbered Bond actors are often "cursed" (like short eras, heavy litigations, budget, comebacks). While the odd-numbered ones (SC, RM, PB) lasted longer. Maybe it's time for an American actor to play James Bond.
PPK 7.65mmSaratoga Springs NY USAPosts: 1,253MI6 Agent
However long it takes to solve the money issues at MGM, one thing is certain Daniel Craig is going to play Bond.
This is such a downer. Poor Cubby would be rollin'. Every snarky snippet I hear in the press just angers me further. I know it will be resolved, it would just be nice if this franchise was left in tact, untouched, unshelved, and progressing in our favor sooner than later!
This is such a downer. Poor Cubby would be rollin'. Every snarky snippet I hear in the press just angers me further. I know it will be resolved, it would just be nice if this franchise was left in tact, untouched, unshelved, and progressing in our favor sooner than later!
Should be soonish, May 14th is MGM's deadline for coming up with a solution, let's see if EON's little press release helps that along.
Kinda seems EON's history, get some good Bond momentum going and then for some reason or other the brakes get stomped on. Craig's run is as good as anybody's BO-wise, can't see Bond staying on the shelf making nobody any money for too long. For some reason I'm still thinking production starts late this year like Craig said, I'm sure EON is doing everything they can pre pre-production to make that happen. Following the money, the money says Bond will return (sooner rather than later, yep yep yep).
PPK 7.65mmSaratoga Springs NY USAPosts: 1,253MI6 Agent
Thanks for the complement Youknowmyname. If it were up to me you can bet that I would have started casting for the Bond girl, villain, henchman, and all the parts in between by now. Also if the marketing of the film was up to me, you can bet that I would pull out all the stops to spread the good word.
Should be soonish, May 14th is MGM's deadline for coming up with a solution, let's see if EON's little press release helps that along.
Kinda seems EON's history, get some good Bond momentum going and then for some reason or other the brakes get stomped on. Craig's run is as good as anybody's BO-wise, can't see Bond staying on the shelf making nobody any money for too long. For some reason I'm still thinking production starts late this year like Craig said, I'm sure EON is doing everything they can pre pre-production to make that happen. Following the money, the money says Bond will return (sooner rather than later, yep yep yep).
I'm going to join your enthusiasm here blueman. I hope that both MGM and EON see the bigger picture and realise, especially in the last 2 bond films, just how profitable they are..... and surely to delay one of their 'Best Sellers' is ludicrous - I'm not sure I quite understand the whole debacle myself, BUT with someone as in demand as Craig, I do fear he wont stick around for ever, and let's face it - he's already in line for 2 if not 3 movies elsewhere..... lets just hope that his passion for James Bond makes him stick around..... even if there is a 2 year delay.
It will be interesting to see what is said on the 14th.....
She's worth whatever chaos she brings to the table and you know it. ~ Mark Anthony
It seems MGM is going for another debt extension, which means more arbitration and a longer delay. It is getting hard to keep up the enthusiastic facade concerning Bond 23 and DC's future in the role. May it not be so!!!
Bloomberg.com is reporting that MGM creditors are canvassing Hollywood execs to run a studio the creditors would keep rather than sell off at fire sale price. The report lists Peter Chernin, Jonathan Dolgen, Spyglass partners Roger Birnbaum and Gary Barber as execs who've met recently. Joe Roth, Rick Sands and Chris McGurk also met but weren't interested, per the story by Ronald Grover and Michael White.
My question is: if the creditors are determined to make a go and revive the Lion, why not let MGM Motion Picture Group chairman Mary Parent get back in there and do her job? It is interesting that the report follows one by Deadline, about how Sony execs were so blown away by a screening of the Kevin James comedy Zookeeper that the film was moved from this fall to a prime time summer 2011 slot? Parent bought that comedy as a spec and made the film with Sony as co-production partner, with Sony taking over distribution because of uncertainty surrounding MGM's ownership. Okay, Fame didn't work (she inherited it) and Hot Tub Time Machine (the first film she made) wasn't a huge hit (though it was silly fun and wasn't expected to be a blockbuster). But aside from Zookeeper, Parent and her team put together a killer package for the Robert Ludlum novel The Matarese Circle with David Cronenberg directing and Denzel Washington and Tom Cruise going mano a mano, and she somehow assembled a Three Stooges package with Jim Carrey, Sean Penn and Benicio Del Toro and Pete and Bobby Farrelly directing. She made the Drew Goddard-directed Cabin in the Woods, co-written by Joss Whedon, who'll direct Marvel's Avengers movie. And Michael Vollman is a skilled marketer who knows how to open movies.
Now, all of this could be moot if you take seriously the comments that Time Warner CEO Jeff Bewkes made on a conference call with investors this week, where he noted that a buy of MGM might make sense at the right price. But if the debt holders are serious about ramping up MGM again, it might help to remember there are talented execs on the premises, unable to do their jobs while the studio sits paralyzed because of the crushing debt load.
Weird. 20 Bond-sized hits wouldn't save them from the current debt. Oh well, they wanna play Hollywood, just green light 23 please. B-)
Nikki Finke must be smokin' the weed; one quick look at Mary Parent's productions via IMDB would make crystal clear why MGM's creditors don't want somebody like her running the company. Her most recent effort was the Jude Law flop Repo Men which cost $32 million but only earned back a meager $15 million worldwide.
If said creditors are seriously entertaining offers, they should rethink Time Warner's $1.5 billion offer; given the dearth of studio hits (let's face it Bond is the only worthwhile franchise they own, even Pink Panther's running on fumes) the amount seems generous to me. Reuters is also reporting that MGM's creditors are expected to again push back the due date on MGM's debt so the May 15 deadline no longer seems to be in play (http://news.yahoo.com/s/nm/20100507/media_nm/us_mgm_sale).
Seems to me like we'll be well into the fall at the earliest before there's any movement. Unless these execs give serious thought to re-evaluating what they think MGM is worth Bond will be in hibernation for a long time.
The Wall Street Journal has a rather detailed article on the MGM situation in today's edition, in summary, I think it will be awhile before this is resolved.
MGM is negotiating with their creditors to get a waiver on their debt payment until late June at the earliest. In the mean time they are negotiating a restructuring plan that would turn control of the company over to the creditors. Much of the debt is held by hedge funds, who of course want a good deal on their investment., which right now is a loser. MGM's debt sells for 42 cents on the dollar in the open market.
The plan being negotiated is a prepackaged bankruptcy, where MGM would declare itself bankrupt and then turn control of the company over to the creditors. The creditors have been looking for someone to run the studio, but no one has shown any interest at this point.
Quite frankly, this is all rather complicated, I hope I did a good job of explaining it, but it is possible I could be off a little on how the bankruptcy would work.
In summary, we have a studio that no one wants to buy (at least at the price asked), a company no one wants to run and in the end, a company controlled by hedge fund guys. I am no bankruptcy expert, but I wonder if MGM declares itself bankrupt, if that would void any contract they have with EON. Like I said before, I think it may be awhile before this is all resolved, so you will have to rely on your Bond DVD's for a Bond fix.
Comments
"I am not an entrant in the Shakespeare Stakes." - Ian Fleming
"Screw 'em." - Daniel Craig, The Best James Bond EverTM
This would seem further proof that EON's suspension of Bond 23 has more to do with them not wanting to have anything to do with MGM than that company's financial woes and it looks like the producers of the Hobbit didn't want to play EON's game after all.
MGM has always been loathe to liquidate itself and has managed to claw and gasp its way thru numerous bankruptcies in the past. Their refusal to accept WB's $1.5 billion buyout offer would suggest they still want to exist as an independent studio and if MGM does indeed now have the Hobbit to fall back on, Bond's hiatus could last even longer.
Roger Moore 1927-2017
My impression that the halting of production was indeed just that...a desire to not cooperate with MGM. Halting production lessens MGMs appeal to any suitors, since it means a delay in any Bond revenue. Such a move seems to imply that Eon is less interested in making a Bond movie and is more interested in establishing a new studio relationship...which is why I fear a longer delay than necessary is coming.
LOL well played
If this drags out too long they could wind up missing the great marketing possibility of a 2012 release. And IMO, that would be too good to pass up.
Roger Moore 1927-2017
I sure hope so. With each passing day I get more and more depressed that I may never see Craig as Bond again. He may not be my favorite Bond actor (probably #3 on the list), but I would like him to do one more in full blown Bond style.
Then, maybe, for 24 a new Bond could emerge...but don't cut him out after two fantastic performances! And for that matter, especially not over such a stupid debaucle
The first one was between 1989-1995, between LTK and GE. Dalton surprised the fans in April 1994 that he won't return. Brosnan was announced as the 5th 007 two months after. The second one was between 2002-2006 or between DAD and CR. At least Brosnan did a Bond video game called Everything or Nothing in 2004. It was considered his fifth Bond film. The third one would probably last until 2012. Let's hope that Bond 23 will be Daniel Craig's last movie.
The even-numbered Bond actors are often "cursed" (like short eras, heavy litigations, budget, comebacks). While the odd-numbered ones (SC, RM, PB) lasted longer. Maybe it's time for an American actor to play James Bond.
Roger Moore 1927-2017
I like the confidence...I only wish you were the one pulling the strings.
http://www.zootoday.com/lateststuff/archive/2010/04/28/dyer--ill-be-your-007.htm
I don't know about his acting skills, but he looks the part: :007)
Kinda seems EON's history, get some good Bond momentum going and then for some reason or other the brakes get stomped on. Craig's run is as good as anybody's BO-wise, can't see Bond staying on the shelf making nobody any money for too long. For some reason I'm still thinking production starts late this year like Craig said, I'm sure EON is doing everything they can pre pre-production to make that happen. Following the money, the money says Bond will return (sooner rather than later, yep yep yep).
I'm going to join your enthusiasm here blueman. I hope that both MGM and EON see the bigger picture and realise, especially in the last 2 bond films, just how profitable they are..... and surely to delay one of their 'Best Sellers' is ludicrous - I'm not sure I quite understand the whole debacle myself, BUT with someone as in demand as Craig, I do fear he wont stick around for ever, and let's face it - he's already in line for 2 if not 3 movies elsewhere..... lets just hope that his passion for James Bond makes him stick around..... even if there is a 2 year delay.
It will be interesting to see what is said on the 14th.....
http://www.mi6.co.uk/news/index.php?itemid=8547&t=mi6&s=news
If said creditors are seriously entertaining offers, they should rethink Time Warner's $1.5 billion offer; given the dearth of studio hits (let's face it Bond is the only worthwhile franchise they own, even Pink Panther's running on fumes) the amount seems generous to me. Reuters is also reporting that MGM's creditors are expected to again push back the due date on MGM's debt so the May 15 deadline no longer seems to be in play (http://news.yahoo.com/s/nm/20100507/media_nm/us_mgm_sale).
Seems to me like we'll be well into the fall at the earliest before there's any movement. Unless these execs give serious thought to re-evaluating what they think MGM is worth Bond will be in hibernation for a long time.
MGM is negotiating with their creditors to get a waiver on their debt payment until late June at the earliest. In the mean time they are negotiating a restructuring plan that would turn control of the company over to the creditors. Much of the debt is held by hedge funds, who of course want a good deal on their investment., which right now is a loser. MGM's debt sells for 42 cents on the dollar in the open market.
The plan being negotiated is a prepackaged bankruptcy, where MGM would declare itself bankrupt and then turn control of the company over to the creditors. The creditors have been looking for someone to run the studio, but no one has shown any interest at this point.
Quite frankly, this is all rather complicated, I hope I did a good job of explaining it, but it is possible I could be off a little on how the bankruptcy would work.
In summary, we have a studio that no one wants to buy (at least at the price asked), a company no one wants to run and in the end, a company controlled by hedge fund guys. I am no bankruptcy expert, but I wonder if MGM declares itself bankrupt, if that would void any contract they have with EON. Like I said before, I think it may be awhile before this is all resolved, so you will have to rely on your Bond DVD's for a Bond fix.