Indian Company Wants MGM: What Does it Mean For ‘The Hobbit’ & Bond?

Published 4 years ago by

mgm sahara india pariwar Indian Company Wants MGM: What Does it Mean For The Hobbit & Bond?

It’s time for yet another chapter in the sprawling MGM bankruptcy saga. When last we checked up on this MGM saga (because at this point it’s way beyond being “a story”), Spyglass Entertainment and Lionsgate looked to be the frontrunning studios competing to take over the financially-troubled MGM.

An extension had been granted until September 15th, at which point both Lionsgate and Spyglass were to have official offers on the table for their respective MGM restructuring plans. Now that the deadline has come and gone, the news we have to share is not about a resolution but of another twist in this convoluted saga: An Indian conglomerate is now making a play for MGM.

The company in question is Sahara India Pariwar, and The Wall Street Journal has a source who claims that Pariwar is in “exploratory talks” about acquiring MGM for $2 billion. MGM’s current financial debt to over 140 lenders is around $4 billion.

It should be noted that the talks are only exploratory, meaning that those involved on either side are feeling each other out to see if there is any real possibility for them to do business. On the MGM side of things, the WSJ source notes that no significant interest has been shown by the studio’s shareholders, despite Sahara’s claims that TV and film fall within the scope of their business interests.

Look… I could open the can of worms by speculating or criticizing the possible ramifications of selling off MGM – which houses arguably the largest catalog of American film there is – to a foreign conglomerate. But to me that “argument” is a specious waste of time and is not actually the matter that needs to be focused on in this situation.

The REAL question for me is: when is this all going to be sorted out for good? We keep hearing deadline after deadline get set, to the point where the word “deadline” itself seems completely arbitrary in a case like this. Nobody seems willing to resolve the issue until the proper paydays get sorted out for those waiting on them, leaving the thing most of us care about – the MGM movie properties being stalled by this fiasco – hanging in what is starting to feel like a perpetual abeyance.

the hobbit bond Indian Company Wants MGM: What Does it Mean For The Hobbit & Bond?

Recently we heard word that The Hobbit may soon be back on track, and soon after that rumors surfaced that the next Bond film might also be getting back in gear; for a moment it truly seemed as though the MGM situation was approaching resolution. However, just as quickly as hopeful news started to sink in, the Bond rumors were quickly debunked and people questioned whether The Hobbit update was really an accurate bit of news, or continued wishful thinking on the part of the filmmakers.

This latest “update” about Sahara India Pariwar is at the very least evidence that we are still stuck in the same chapter of this MGM saga as we have been for a couple of months now. How long we will have to wait until an ACTUAL resolution is reached, and we know for sure what is going to happen to the films we want to see go into development, is anybody’s guess.

Stay tuned by following us on Twitter: @screenrant

Source: WSJ

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TAGS: james bond, the hobbit

16 Comments

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  1. Looking forward to the (inevitable) Ken Burns documentary about MGM sh**ing the bed and how it affected Hobbit, Bond, etc.

  2. Bollywood Bond… I think I could learn to love it like a one-eyed puppy.

  3. when will this soap ever end, and when will MGM decide what to do to get back in business ?
    its high time that the next bond gets made, its a guaranteed moneymaker ,so why havent they started yet?

    • Ironically because their’s no money! imagine that, being in bankruptcy because you have no money, it’s Unamerican really… ;)

  4. “The name is Patel, James Patel.”…. that just doesnt sound right, but I’m more than surprised it hasnt happened yet with all the political correctness b/s

  5. It means Bond will inexplicably burst into song and dance to sitar music at key points in the film.

  6. I don’t understand any of this.

    Bond and Hobbit will make billions respectively – surely any studio will jump a the chance of buying them out, no?

  7. I wish I had4 billion id buy them in aheart beat, its a great investment that would pay off with in 10 years then u r making like 100 mill a month in straight profit. how no one has thought of this as well is beyong me, seems like companys woould be lineing up to buy this im so confused????

    • I’ll give you the first $10 toward that 4 billion.

  8. I think they know both films will make tons But when your debt hits the 4 billion mark and u need to spend hundreds of millions making both (I would imagine the hobbit will cost a fair few hundred mil to make and market) investors aren’t keen on putting plant money down for mgm films, yes both would probably be able to wipe the debt clean, but that means probably no one getting paid to make either film, no matter how popular a product it always comes down to money and if They’re billions in the red that needs to be sorter first….or they may just sell the bond franchise to the highest bidder and cut their losses with receivers and fold mgm…all in all money will be the answer unfortunately before any other filmstrip are made….which is just poo
    ..QOS bond was a real mature step for the character and It was really gonna hit its stride now its hit a roadblock..oh and we know one way or another the hobbit will get made its just a matter of when

  9. It means…well, it means nothing other than a small delay. Okay, MAYBE for Bond he has a mission that takes him to Dubai and the new Bond girl is Freida Pinto…but they’ll leave The Hobbit be.

    Note: I could see a small advantage here. I could see Bollywood films using a studio distributor such as a revised MGM…

  10. it would be depressing to have bollywood own mgm.

  11. The Hobbit & Bond both are brand movies for MGM and MGM also very attached to both movies but when there is matter of $4 billion debts then just money matters. If by selling MGM, the investor and share holder get their money back then i don’t think its a bad idea. Think about investors and share holders, after loosing thousands and millions do they feel to watch any bond movie again. Now a days, it’s a global world and such type of take over is normal thing now and who ever is gonna take this MGM, he wouldn’t sideline these movies. So we again gonna be hear “My name is Bond…James Bond.”

    • once the investers get their money back what direction would the movies go?that is a big question.

      i am concerned about mgm movies leaning toward the direction of the bollywood movies.

  12. Didn’t Fareed Zakaria predict this in “The Post American World”?

  13. ITS SICKENING AS HELL!