Spyglass signs letter of intent to run MGM

[Dusty Ayres]

Good news regarding the fate of MGM, from Commander Bond.net:

Back in early August we reported that Spyglass Entertainment’s co-heads Gary Barber and Roger Birnbaum were close to a deal to run MGM studios. A deal has apparently been struck now as Barber and Birnbaum have both signed a nonbinding letter of intent to take over management of the studio. To finalize the deal MGM’s debt holders and board of directors will have to approve it. Looking ahead it’s been reported that the co-heads of Spyglass have already had talks with Hollywood executive Ken Schapiro about becoming MGM’s chief operating officier.

Once the deal is approved MGM will enter into a prepackaged bankruptcy sometime around the 15th of September when their latest debt waiver expires. This process should last approximately two months. Under the deal reported in August MGM’s creditors will forgive the studio’s $4 billion debt in exchange for the bulk of the restructured studio’s new equity.

Spyglass signs letter of intent to run MGM

The only problem is...will a new 007 movie be made by this company again? I sure hope so.

[Admiral_Young]

Interesting news and I hope this gets approved so we can get Bond 23 rolling again, I was really looking forward to Sam Mendes (who has stated I believe that he would return to the project once the MGM finical mess is sorted out) directing the Peter Mogan script, the story they came up with was fascinating. This would probably work out for "The Hobbit" and MGM's other major film properties as well.

[Lonemagpie]

Admiral_Young wrote:

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Interesting news and I hope this gets approved so we can get Bond 23 rolling again, I was really looking forward to Sam Mendes (who has stated I believe that he would return to the project once the MGM finical mess is sorted out) directing the Peter Mogan script,

1) What had you heard about what it was about?

2) I thought the Wilsons had problem's with Morgan's script and were having it redone anyway

[Dusty Ayres]

In related news to this, James Bond and Felix Leiter come back in a new James Bond novel by Jeffery Deaver, named Project X:

JEFFERY DEAVER: THE CRIME WRITER WORKING ON THE LATEST BOND BOOK

Felix Leiter to return in ‘Project X’ (from a Felix Leiter-centric fan site!)