Message board members Pipe Dream and macfalk have unearthed more breaking news regarding MGM’s financial woes. A Business Week/Bloomberg update announced that billionaire Len Blavatnik’s Access Industries may drop out of the bidding, having received no response to-date from MGM or its creditors regarding its restructuring proposal. Another interesting development was published today at Variety: with MGM’s latest extension on its debt servicing payment scheduled to run out today, MGM’s creditors granted yet another extension; this one for 45 days (expiring May 14).
From both articles: lenders have deemed the current offers too low, a person with knowledge of the deliberations said last week. MGM debtholders are said to be split into two camps — one that wants to accept the best offer; and the other that wants to prolong the process in hopes of keeping the studio alive. The remaining binding offers for MGM are believed to be in the $1.5 billion range, far below the $2 billion threshold price sought by MGM and its debtholders. MGM put itself up for sale in November, drawing a trio of binding offers two weeks ago. Lionsgate bailed out of the bidding last week, leaving only Time Warner and Len Blavatnik’s Access Industries in the running.
As we reported in this TheOneRing.net exclusive, inside sources tell us that moving forward with production of The Hobbit hinges on developments with MGM. So stay tuned here as we continue following the MGM saga closely.
A Birmingham nature reserve that was a favourite childhood playground of Lord of the Rings author JRR Tolkien has been awarded a £376,500 lottery grant. Tolkien said Moseley Bog had inspired the mystical Old Forest that his Hobbit characters travelled through in the Lord of the Rings. The reserve is owned by Birmingham City Council and managed by the Friends of Moseley Bog and a wildlife trust. They said the grant would fund an outdoor theatre and restore hedgerows. More..
This feels like 1999 all over again, we have another collection of set pictures from the New Zealand set of Hobbiton. Thanks to Paul for sending these along!
TheOneRing.net and Warner Brothers are teaming up to celebrate the release of The Lord Of The Rings Motion Picture Trilogy on Blu Ray, April 6th 2010!
From now until April 13th 2010, we will be giving you the opportunity to win some amazing prizes, including the grand prize of a Lord of the Rings Middle-earth Treasure Chest Jewelry Box, worth nearly $200!
You will be also be competing for a Sterling Silver Arwen Evenstar Pendant, Sterling Silver Elven Leaf Brooch, and over thirty other great LOTR themed prizes!
How to Enter: This giveaway will be hosted on the Official TheOneRing.net Forums! All you have to do to enter is reply to this giveaway thread with your favorite scene in The Lord of the Rings and give us a small explanation of why that is your favorite scene. All winners will be randomly chosen from all replies to the thread.
Click Here to Enter
Hayes writes: The Arlington Cinema Drafthouse just added Rings Fest 2010 to their calendar. All Three Lord of the Ring Movies + Games and Contests – FOR ONE LOW PRICE!
When: Sunday, April 25th, 2010 from 12PM to 10PM
Where: Arlington Cinema & Drafthouse
Price: $8
Watch for your favorite Movie or stay for ALL THREE. Enjoy Lord of the Rings again on the BIG SCREEN! The Festival is open all day, please feel free to come at any time. Continue reading “Arlington Cinema Drafthouse Goes Geek”
Pippin writes: In my infinite wisdom [and inability to learn from past mistakes, how many cons & conferences have I run now?] I will be chairing a Tolkien conference in the Boston area at the end of March 2011. 3rdcome.org Continue reading “3rd Conference On Middle-Earth in Westford, MA”
