MGM begs for cash?
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!Posted in Guillermo Del Toro, Hobbit Movie, MGM, Studios on April 7, 2010 by MrCere