The New Zealand Council of Trade Unions (CTU) says it is furious at Arts, Culture and Heritage Minister Chris Finlayson for “taking sides” in the debate over The Hobbit. Mr Finlayson said yesterday that the Government had sought legal advice from the Crown Law Office confirming that The Hobbit producers had the law on their side in refusing to enter into a union-negotiated agreement with performers who were independent contractors. CTU president Helen Kelly said that advice was biased towards Jackson and as a lawyer, Mr Finlayson would know that. “That’s like saying, ‘I can’t talk to you because this conversation would be illegal,'” Ms Kelly said. Just because there would be contractors working on the project that did not rule out having a union contract, she said. More..
Category: Studios
Opposition politicians were today urging the producers of The Hobbit to start talks with an actors’ union to ensure the movie gets made in New Zealand. The movie’s executive producer Sir Peter Jackson has threatened to move the shooting to eastern Europe after NZ Actors Equity said it wanted a collective contract for New Zealand actors appearing in the movie. Actors Equity president Jennifer Ward-Lealand said, following a meeting last night, a delegation would seek to meet the producers of The Hobbit to hold negotiations in good faith. More..
Last week it was reported a two billion dollar offer from Indian conglomerate Sahara India Pariwar was rejected by MGM. But now an article in Businessweek says the offer is being reconsidered by creditors.
Additionally, Sahara has chosen an investment bank in the United States to provide representation, according to Sahara spokeswoman Marcy DePina. She also stated that “part of the quick rejection had to do with Sahara submitting documentation of its assets in rupees”
You can read the entire article here.
New Line, Warner Bros. and MGM have issued a combined statement regarding the current ‘Hobbit’ headlines:
New Line, Warner Bros. Pictures and Metro-Goldwyn-Mayer Pictures are concerned by the recent allegations of unfair treatment of actors in New Zealand and instructions from the performers’ guilds to their membership to withhold services from the producers of “The Hobbit” in New Zealand. We are proud to have good relations with all of those performers’ guilds and value their contribution to the motion pictures produced in their respective jurisdictions throughout the world. But we believe that in this case the allegations are baseless and unfair to Peter Jackson and his team in Wellington who have been tireless supporters of the New Zealand motion picture community.
A leaked memo last week informed us that an MGM buyout wouldn’t go through. MGM is on target for a planned bankruptcy and association with Spyglass that will likely allow two ‘Hobbit’ movies to go forward. Today we have info directly from the once potential buyer reported by the Associated Press which says:
Indian conglomerate Sahara India Pariwar says that its offer to buy out the creditors of struggling Hollywood studio Metro-Goldwyn-Mayer Inc. for more than $2 billion has been rejected.
Subrata Roy Sahara, the company’s chairman, had a conference call with creditors on Tuesday. The company said late Thursday that the offer was rejected within hours.
A spokesman for Houlihan Lokey, an investment bank that is advising MGM’s creditors, declined to comment. You can read the rest right here.
Mike Fleming from Deadline New York writes: Despite the speculation that India conglomerate Sahara India Pariwar might swoop in and buy MGM for $2 billion, it doesn’t sound like management is taking it that seriously. At least not based on this internal memo I just got hold of:
To All Employees: We wanted to take this opportunity to provide you with an update on the Company’s restructuring efforts. Recently we announced that our lenders have again agreed to extend the forbearance period relating to certain of our debt obligations and we are appreciative of their ongoing support throughout this process.
We recognize that throughout this restructuring process, there has been a great deal of speculation about the Company’s future in the media and elsewhere which can be very distracting. We appreciate the focus, hard work and dedication you all have demonstrated for the last year. We can assure you we are working to bring this process to a conclusion as quickly and thoughtfully as possible. However, the process is still evolving and we appreciate your understanding that there are not a lot of definitive answers at this stage. More..