MGM Files for Chapter 11 Bankruptcy

Couch Potato Club:
Metro-Goldwyn-Mayer Inc. (“MGM”) today announced that it and approximately 160 of its affiliates have filed Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York to seek confirmation of their “pre-packaged” plan of reorganization.

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Soldierone2178d ago

Kinda sucks to see, but after reading about their plans its not that big of a deal. The company isn't going anywhere and has major plans to keep business alive, So i wouldnt worry too much.

darklordzor2178d ago

Yeah, really this is what's going to get them back on track. They've got Hobbit going, and James Bond can get started again. While it looks bad for a headline, this is something that's going to be a boon for them.

-Mezzo-2177d ago

I hope they do Bounce back, it's sad to see Such a Major company in this situation.

Plus i am dying for an update on the Next Bond Movie.

gaden_malak2177d ago

How does a company that has Bond and LOTR go bankrupt?

JL2177d ago

Yea, in ways it's actually good. This is the only hope they have really. I mean that's the whole nature of Chapter 11 bankruptcy: to give aid and keep someone from going completely under. It's a reorganization/aid thing.

blur992177d ago (Edited 2177d ago )

Wow. One of the true icons of film making files Chapter 11.
Shocking. Hope they bounce back after they raise the funds.

Soldierone2177d ago

Well alot of the big hitters have sold their assets to other companies lately. Even Disney was rumored to be selling stuff lately. Seems to be WB is the only company capable of running a business lately haha.

JL2177d ago

You mean: Harry Potter is showing his magic extends beyond the screen by keeping WB at the top lol.

blur992177d ago

Having Batman films ready to be made sure helps.
Instant blockbuster.

Soldierone2177d ago

Its a good example of it. They milked the hell out of Harry Potter and just Harry Potter. Now that its ending they are milking their super hero franchises, something they could of done ages ago. When thats done they will have something else to milk.

Not only that but their "experiements" are highly rated and make it bigtime too. Look at Inception and what not. WB knows how to make good films and have created a good name for themselves. Anything with a WB logo on it will sell well.

-Mezzo-2177d ago

YUP, every Batman movie will make more than $400MIl on Box Office, just like Twilight movies, but the difference is that Batman movie will not Suck donkey B***s & will actually be worth that Money.

-Mezzo-2176d ago

I haven't seen and of the Connery *Bond* movies, so i cannot say anything about that, but i will say Daniel Craig is a great Bond.

GodsHand2176d ago

Roger Moore, all the way.

Sean Connery is pretty good too.

Djinn2177d ago

SHIT!!! I want another Bond movie...with Daniel Craig. He's better than Connery.

blur992177d ago

I'm not sure if anyone can be better than Connery.
And I haven't even seen all of his Bond Movies.

-Mezzo-2174d ago

I just watched a Sean Connery Bond yesterday & now i understand why he's considered the best Bond ever, but i would say Daniel Craig is nothing less.

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