Wednesday, September 22, 2010

MOVIE NEWS … MGM STUDIOS

MOVIE NEWS  …

MGM STUDIOS

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The latest developments on the sale of MGM have been surprisingly positive when you consider how dire things have looked for most of the last year. After months of speculation and delays for both The Hobbit and the next James Bond film, a deal is currently in the works between the classic film studio and co-financing company Spyglass Entertainment.

Since then, there has been a dedicated effort to have Martin Freeman as the actor to play Bilbo Baggins and production for both stagnant films is rumored to start next year. But things are never easy in Hollywood.

Bloomberg reports that Indian conglomerate Sahara India Pariwar has made an offer for the studio, according to an inside source. A bid of $2 billion, negotiations are still at a very early stage, though it's being reported that Barbara Broccoli and Michael G. Wilson, producers of the Bond franchise, are involved with the deal and would receive and equity stake in the studio should the deal go through.

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