Screenhead

Call it another casualty of the Great Recession, folks, but MGM is weighing its options in the face of horrendous losses.

As much as we’d all like to blame their lone theatrical release for the year (Fame!  Nobody cared about it…nobody watched this crap!  Fame!  Go ahead, sing along! It’s fun.)  for being the millstone around MGM’s neck, as it turns out, it was weak DVD sales that brought down the beast.  MGM had a monster library of titles, weighing in at over four thousand titles, and now it’s all up for bids.  Also up for sale is the James Bond franchise, and even the roaring lion logo.

Interestingly, though, it may not be as up for sale as we think–seems that MGM’s creditors are taking a pass on collection action for a while, and meanwhile, MGM’s pumping all the cash it can scrounge into its upcoming movies Red Dawn, the Hot Tub Time Machine and The Zookeeper.

Oh, sure, they’re pretty fair releases…a remake and two good comedies featuring solid comedy actors…but enough to save the studio?  Scuse my lack of conviction on that one.

But only time will tell if MGM will still be selling off all its assets or if this year will turn it around.

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