jbgude
04-09-2005, 11:48 AM
Here is an extract of an news item from CNN today: maybe this is why the last round of Elvis' DVds were pulled from release. Read on:
"Bye-bye, MGM
Famed studio, and UA partner, swallowed up in purchase .....
LOS ANGELES, California (Hollywood Reporter) -- It's very sad. MGM is gone. So is United Artists.
The deal, expected to close on Friday, for a consortium of companies (including Sony Corp.) to purchase the MGM assets for some $4.8 billion reminds us that in today's entertainment universe, it's all about selling DVDs........
....As Kerkorian finally closes his latest deal to sell MGM Inc. to the Sony consortium -- including Providence Equity Partners, Texas Pacific Group and DLJ Banking Partners -- for almost $5 billion, he will make billions; Yemenidjian and McGurk make millions.
Nobody knows quite what will become of MGM and UA. About 250 out of 1,400 employees will stay on, mostly at the home video company, while the rest cash their severance checks, switch to their home e-mail addresses and join their Miramax brethren sending out resumes.
The CD press kit for the upcoming "Amityville Horror" remake, complete with MGM mailing label, is starting to feel like a collector's item.
Sony will divvy up the outstanding MGM and UA titles for release through its divisions including Columbia, TriStar, Screen Gems and Sony Pictures Classics. If MGM continues to co-produce films with Sony, it's mainly to keep the library refreshed, insiders say.
The MGM and UA labels will still show up on surviving franchises like "The Pink Panther," whose latest incarnation starring Steve Martin arrives in September. (The "Pink Panther," James Bond and "Rocky" franchises originated at UA.)....."
Interesting as Sony already has BMG this will be other side of the triangle Sony/ BMG/ MGM ......
Let us hope we do not have long to wait for the Elvis movies.
"Bye-bye, MGM
Famed studio, and UA partner, swallowed up in purchase .....
LOS ANGELES, California (Hollywood Reporter) -- It's very sad. MGM is gone. So is United Artists.
The deal, expected to close on Friday, for a consortium of companies (including Sony Corp.) to purchase the MGM assets for some $4.8 billion reminds us that in today's entertainment universe, it's all about selling DVDs........
....As Kerkorian finally closes his latest deal to sell MGM Inc. to the Sony consortium -- including Providence Equity Partners, Texas Pacific Group and DLJ Banking Partners -- for almost $5 billion, he will make billions; Yemenidjian and McGurk make millions.
Nobody knows quite what will become of MGM and UA. About 250 out of 1,400 employees will stay on, mostly at the home video company, while the rest cash their severance checks, switch to their home e-mail addresses and join their Miramax brethren sending out resumes.
The CD press kit for the upcoming "Amityville Horror" remake, complete with MGM mailing label, is starting to feel like a collector's item.
Sony will divvy up the outstanding MGM and UA titles for release through its divisions including Columbia, TriStar, Screen Gems and Sony Pictures Classics. If MGM continues to co-produce films with Sony, it's mainly to keep the library refreshed, insiders say.
The MGM and UA labels will still show up on surviving franchises like "The Pink Panther," whose latest incarnation starring Steve Martin arrives in September. (The "Pink Panther," James Bond and "Rocky" franchises originated at UA.)....."
Interesting as Sony already has BMG this will be other side of the triangle Sony/ BMG/ MGM ......
Let us hope we do not have long to wait for the Elvis movies.