This is the question looming in the minds of fans as journalists can only guess at how far down the sale process MGM is?
Recently, despite a debt of $4 million, MGM made it clear they were holding their cards close to their chests – with a pack of non-disclosure agreements being posted to those expressing an interest in buying the big cat.
The most recent development is that Variety claims insider knowledge, announcing that a few of these agreements were returned, signed, meaning that there are parties seriously considering a purchase.
“It’s not a given that MGM will be sold,” explains Variety reporters. “The beleaguered studio has left open the door to continue operating as a standalone entity or forming some kind of strategic partnership if MGM’s 140 debtholders agree to do so, possibly through a prepackaged bankruptcy. The bondholders have agreed to hold off receiving interest payments until Jan. 31 in order to enable management to find out the actual value of the assets and whether it should proceed with a formal auction.”
What does this mean for James Bond 23? Fans had been hoping for a 2010 release (following the two year pattern set by Casino Royale and Quantum of Solace) but a 2011 release is far more realistic – provided MGM has its affairs in order by the time it comes to publicise and distribute the picture.
Last time around we were relatively fortunate that Sony was handling the Bond picture, but it seems as if this will not be the case for Bond 23.
Many predict it will not be a simple matter of bailing out the iconic film company and carrying on regardless. At any rate, James Bond fans wont rest easy until MGM is in safe hands and on a sure financial footing.
Here’s hoping someone takes action.
About Skyfall – James Bond 23 (2012)
The new Bond movie will star Daniel Craig, Javier Bardem, Ralph Fiennes, Naomie Harris, Berenice Marlohe, Albert Finney and Judi Dench, produced by Michael G. Wilson and Barbara Broccoli. The 007 screenplay will be written by regular James Bond scribes Neal Purvis and Robert Wade, working with John Logan (Gladiator & The Last Samurai). Director of American Beauty and Road To Perdition, Sam Mendes will be directing the new James Bond movie. MGM and Sony Pictures Entertainment in a joint statement on 2nd June 2011 announced that “Bond 23″ will go on release in the UK on Friday, 26th October, 2012 and in the USA on 9th November 2012. The first major announcement from EON Productions and Sony Pictures came on 3rd November 2011 in London when the principle cast was announced, along with a rough plot line. In Skyfall, Bond’s loyalty to M is tested as her past comes back to haunt her. As MI6 comes under attack, 007 must track down and destroy the threat, no matter how personal the cost.