Richard Taylor interview and MGM update

Richard Taylor Talks More On “Hobbit”, “LOTR” Blu-ray


Also:

MGM begs for cash?

April 7th, 2010 by MrCere

According to this credible report from excellent Hollywood journalist Nikki Finke, MGM is asking for money and wants the cash to function as a studio and make back the money it owes to its debtholders. She says, “…Last Thursday, right before Easter weekend, MGM Management gave an 8-hour presentation in the old MGM Screening Room to the creditors.” Apparently the creditors’ questions revealed they may not fully understand the film business. Current offers in the auction of the studio are unlikely to be accepted. Credit Finke for not jumping to conclusions and admitting the next step is anybody’s guess. For our “Hobbit” centric audience, Guillermo del Toro says this is indeed an obstacle for getting a green light on the films he is ready to direct. Thanks to Sunflower from our message boards for the tip!

MGM again

A $500M glimmer of hope on the MGM front?

April 8th, 2010 by MrCere | Discuss

Investors want to give MGM $500 million to start making new productions according to Nikki Finke at Deadline.com. Relativity Media, backed by a hedge fund, must see the profit potential in projects and properties like “The Hobbit” and further James Bond films. The report says this offer was made three weeks ago which means they probably weren’t following TORn’s advice, but maybe those holding MGM’s $3.7 billion debt will, and allow this to happen. In any case, the auction for MGM seems to be dead. If this deal is accepted, “The Hobbit,” could go forward right away. One also wonders if last Thursday’s long meeting was more about urging the bondholders to accept an offer like this and less about asking them for more money directly. Of course, investors may also want to carefully watch their money and that taps into the deepest fears of financiers wanting creative input into films. But with the LOTR track record of Producer Peter Jackson and proven visionary Guillermo del Toro directing, those fears are tempered. Thanks to Sunflower on our message boards and the many pairs of eyes keeping us up to date.