Clock Ticking for MGM; Logo and Library Heading to the Auction Block? - Dread Central
Connect with us

Clock Ticking for MGM; Logo and Library Heading to the Auction Block?

Published

on

If the word coming out of Hollywood this evening is correct, we are about to lose a huge piece of cinematic history. MGM, which boasts one of the best known logos in the entertainment business and a library of some 4,000 films, could be placed on the auction block due to its massive $3.7 billion debt.

What that means for the three MGM horror projects we’ve been reporting on this year — Joss Whedon’s Cabin in the Woods ( currently delayed to Feb., 2011), Vadim Perelman’s Poltergist redux (slated for Nov., 2010), and Juan Carlos Fresnadillo’s reboot of Roger Corman’s classic X: The Man With the X-ray Eyes (which we’ve heard nothing about since March) — is, of course, up in the air, as it just about everything else involving the studio right now.

Clock Ticking for MGM; Logo and Library Heading to the Auction Block?

Here’s what is known, per Variety:

A major, such as Time Warner, could buy the MGM-UA library while another entity might acquire the logo, and yet another deal could be made for United Artists. Sources speculated that Kirk Kerkorian, who has already bought and sold MGM twice, might buy the logo once again.

Last summer Harry Sloan was bounced as MGM’s CEO, and Stephen Cooper, a specialist in restructuring companies started meeting with bankers … There was speculation that the combined assets of MGM may now yield as little as $1.5 billion in the present market.

The various equity owners of MGM, including several private equity firms, have already written down their $5 billion acquisition, which closed in 2004.

Any sort of auction would need approval of a two-thirds majority of the bondholders, and a couple of the bondholders insist they have not been contacted as yet. Some sources believe a pre-packaged bankruptcy is an option, and there is still an expectation that Time-Warner might make a last eleventh hour bid.

Neither Cooper nor MGM would comment.

Talk about the end of an era!

Uncle Creepy

VISIT THE EVILSHOP @ AMAZON!
Got news? Click here to submit it!
What am I bid for the Dread Central forums?

Image Type 1:

Continue Reading
Comments

News

Zac Efron Looks Extremely Wicked, Shockingly Evil and Vile as Ted Bundy

Published

on

We told you a while back that Zac Efron would be assuming the role of charismatic serial killer Ted Bundy in Oscar-nominated documentary filmmaker Joe Berlinger’s new film Extremely Wicked, Shockingly Evil and Vile (that title is a wondrous mouthful); and today Efron himself took to Twitter to share the first image of himself as Bundy. Check it out!

Michael Werwie wrote the script for the project, which is told through the perspective of Elizabeth Kloepfer, Bundy’s longtime girlfriend, who went years denying the accusations against Bundy but ultimately turned him in to the police. Only nearing his execution, when Bundy began talking about his extensive and heinous murders, did Kloepfer, and the rest of the world, learn the true scope of his numerous and grizzly murders.

Principal photography began back in October 2017.

Continue Reading

News

Ash vs. Evil Dead Season 3 – Get Your First Look at the Bride of the Chin!

Published

on

Starz’s “Ash vs. Evil Dead” is nothing short of a friggin’ gift for fans; and if you aren’t watching it, you need to fix that like yesterday. Teally… you don’t have much of an excuse. It’s on DVD. Blu-ray. Digital. Netflix. You name it!

Season 3 is just around the corner, and the good folks over at Arrow in the Head got themselves the first look at Ash and his bride-to-be, Candy, played by Katrina Hobbs.

Look for Season 3 to premiere on February 25th at 9PM ET/PT.

“Ash vs. Evil Dead” is led by Bruce Campbell (Evil Dead, “Burn Notice”) in the role of Ash Williams; Lucy Lawless (“Salem,” “Spartacus”) as Ruby; Ray Santiago (“Touch,” Meet the Fockers) as Pablo Simon Bolivar, Ash’s loyal sidekick; Dana DeLorenzo (A Very Harold & Kumar 3D Christmas) as Kelly Maxwell co-star alongside newcomers Arielle Carver-O’Neill and Lindsay Ferris. Lee Majors returns as Brock Williams to warn Ash from beyond the grave.

The third season finds Ash’s status in Elk Grove, Michigan, has changed from murderous urban legend to humanity-saving hometown hero. When Kelly witnesses a televised massacre with Ruby’s fingerprints all over it, she returns with a new friend to warn Ash and Pablo that evil isn’t done with them yet. Blood is thicker than water in the battle of good vs. Evil Dead!

Continue Reading

News

Make a Date With The Devil and Father Amorth

Published

on

Well, that headline’s not entirely accurate… you wouldn’t want to be a third wheel now, would you? What we’re talking about here is William Friedkin’s new documentary The Devil and Father Amorth. In it Friedkin witnesses first-hand the work of the Vatican’s in-house exorcist; and if that doesn’t pique your interest, I don’t know what will!

Deadline is reporting today that we can expect to see the flick sometime this spring in theaters via The Orchard.

Known as the “Dean of Exorcists,” Father Amorth (who turned 92 not so long ago) has performed thousands of exorcism rituals to rid evil from the human body.

In the early 1970s when I directed The Exorcist, I had not witnessed an exorcism; but I wondered how close I had come to portraying reality,” Friedkin tells the site. “I had been curious to meet Father Amorth for many years; and when he granted permission to meet and film him in Rome last May, it was the opportunity to complete the circle and see how close that film came to reality.

Demon

 

Continue Reading

Recent Comments

Advertisement

Join the Box of Dread Mailing List

* indicates required

Go Ad Free!

Support Dread Central on Patreon!

Trending

Copyright © 2017 Dread Central Media LLC