It looks like MGM, and its James Bond franchise, will survive
Just when MGM and its valuable Bond franchise seemed on the brink of doom, the sky is blue again. MGM has undergone an asset restructuring that will allow them to crawl out from under their $4 billion debt, and the next Bond film is officially back on track. Even better, the next Bond will still have Sam Mendes attached as director, with lead Daniel Craig returning as the bed-hopping super spy. So the dream of seeing what the man behind Amerian Beauty and Road to Perdition will do with a bond flick remains alive.
MGM will still likely end up in the hands of one of the major studios somewhere down the road, probably Paramount. But with this restructuring the eventual move should be less traumatic. Though Peter Jackson’s The Hobbit was pushing ahead with other funding opportunities anyway, this is great news for that project as well, and should prevent the financial hiccups that often accompany productions of that magnitude.