While MGM continues to sort out its plans for restructuring, the company has been forced to put a number of major projects on hold, including the new James Bond film and The Hobbit.

It would appear, however, that even amid all of its financial chaos, MGM has not given up on the movie-making business – because MGM is currently developing a feature-length adaptation of the landmark 1960s sci-fi series The Outer Limits.

According to a Variety report, MGM has hired Patrick Melton and Marcus Dunstan to write the script. The writing pair has previously worked together on the Saw franchise, scripting parts four through seven (aka the upcoming Saw 3D).

On the off chance that you’ve never heard of The Outer Limits, it was a science-fiction show written from 1963 to 1965. In some respects, The Outer Limits was a little brother to the more well-known and popular sci-fi TV series, The Twilight Zone, which ran from 1959 to 1964. In the decades since it aired, The Outer Limits has been recognized as a major influence on modern science-fiction and was even revived for an impressive seven season run on Showtime and then Syfy.

Of course, the strange thing about this news isn’t that MGM is interested in making a movie based on The Outer Limits. The real interesting question is why MGM decided to move forward with this particular project, and where is the company getting the money to pay for the film?

In the Variety article, an MGM spokesperson claims that Melton and Dunstan were hired before the company ran into its recent financial problems. However, the spokesperson also admits that the writers were paid “just weeks ago,” at roughly the same time that MGM creditors gave the beleaguered company its sixth deadline extension.

In my opinion, MGM’s position is so screwed up right now that any production or cancellation announcements related to the company should be taken with a grain of salt. Until MGM gets things together, there’s no way to know for sure what movie will come out next, be it The Outer Limits or any other project.

The new deadline for MGM to settle on a restructuring deal is September 15th, which means the company could announce its plans in the very near future. While we’re waiting on that announcement, we will be sure to keep an eye on any and all pending MGM projects.

Source: Variety

Photo Collage: Clinton S. Clark