MGM sorts out its problems
MGM is getting back on its feet after a period of financial hardships.
The studio announced that its plans for restructuring are complete and with $500 million at its back, MGM intends to forge ahead.
Why should this matter to you? Because this is the studio that has been sitting on The Cabin in the Woods and The Poughkeepsie Tapes. The former was delayed for a year to be converted to 3D, however, we heard that never occurred so we can presume it’s ready for release whenever MGM scrapes the funds together to get it out there.
Ditto for Poughkeepsie, the Dowdle brother’ found footage flick originally set to hit in late 2007.
This may spell good news for the rumored Child’s Play remake writer Don Mancini has been trying to get off the ground at the studio.
Priorities for MGM are, of course, The Hobbit and Bond 23. We’ll just have to wait and see how things roll out over the next few months!
Source: Ryan Turek, Managing Editor