MGM On the Way to Auction

11/12/2009 Posted by Admin

By our guest blogger, Rob Stammitti

They've given us "2001: A Space Odyssey," "The Wizard of Oz," and every James Bond feature of the last 15 years, among so many others, but in upcoming weeks the 85-year-old studio MGM, along with their Leo the Lion logo and subsidiary studio United Artists, is up for grabs to the one with the highest bid. It seems the company can hardly hold its head above water any longer.

Reporting on the news of the company's imminent downfall, Variety said:

"This would mean that a major, such as Time Warner, could buy the MGM-UA library while another entity might acquire the logo, and yet another deal could be made for United Artists. Sources speculated that Kirk Kerkorian, who has already bought and sold MGM twice, might buy the logo once again."

The only major asset the company has reportedly been able to hold onto is the adaptation of JRR Tolkien's "The Hobbit," directed by Guillermo Del Toro and set to be released sometime in 2011. They also have a few features coming out next year, including the Kevin James comedy "Zookeeper" (a co-production with Adam Sandler's company Happy Madison). There's very little word as to what will happen with the James Bond franchise.

It'll be sad to see such an iconic studio go, especially one so synonymous with practically the entire history of American filmmaking. Even as a kid before my admiration for film really began, I always recognized their logo and associated it with great entertainment.

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  1. Ang said...

    Wow!! This is so sad.