Spyglass nearing a deal to save MGM
It’s an under-statement to say that the financial problems over at MGM have upset many movie goers. All of the studio’s projects have been delayed, and has even lead to the cancellation of Darren Aronofsky’s Robocop remake and Bond 23. However, those problems may be coming to an end soon.
According to The Wall Street Journal, Spyglass Entertainment is nearing a deal to to run MGM. The studio’s creditors have been hammering financial details with Spyglass, and are now negotiation of MGM’s new board. As part of the deal, Spyglass will be merging part of it’s film library with that of MGM. Spyglass would be receiving 4% ownership of MGM, and forgive the studio’s debt for the bulk of the equity.
The deal could be done as early as this week if everything goes well. This could mean that development on The Hobbit films would begin as soon as possible, and be able to meet the scheduled start date in January. However, it may prove to be difficult to get Bond 23 off the ground with Daniel Craig back in the lead. The actor is currently about to begin production on Fincher’s The Girl With The Dragon Tattoo remake, which the actor is also signed on to star in the sequel.
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