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MGM to be Auctioned Off This Year

Posted: November 12th, 2009 by WorstPreviews.com Staff
MGM to be Auctioned Off This YearSubmit Comment
We already know that both "James Bond 23" and "The Hobbit" films are moving forward, but may find themselves at a new home, since MGM is expected to be auctioned off within the next few weeks.

It is expected that someone (possibly Time Warner) will purchase MGM's library of 4,000 titles and someone else will buy the actual company, which has "Hot Tub Time Machine," "The Zookeeper" and the "Red Dawn" remake set for release next year.

The speculation is that combined assets of MGM may bring in only $1.5 billion in today's market, since most of the company's big titles are considered geriatric. If the James Bond franchise becomes part of the library, that would definitely increase the value of it.

This auction is a big hit for investors, who purchased the company for $5 billion only five years ago. Now, MGM is $3.7 billion in debt. Stay tuned.

Source: Variety


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Displaying 26 comment(s) Profanity: Turn On
VDODSON writes:
on November 12th, 2009 at 7:47:41 AM

Modern Warfare 2 sold 7 million units on release day.
freshfromthedeli writes:
on November 12th, 2009 at 8:01:33 AM

I was under the impression Sony was going to buy MGM. What happened?
CCBlev writes:
on November 12th, 2009 at 8:11:33 AM

Hey, can someone loan me 5 bucks so I can buy this company?
eViL.kEv2 writes:
on November 12th, 2009 at 8:35:42 AM

Here you go, CC, here's $8, pick me up some Miramax on the way home
eViL.kEv2 writes:
on November 12th, 2009 at 8:36:46 AM

Oh and get your dad a Toasted Almond Bar!
SeWerin writes:
on November 12th, 2009 at 9:03:46 AM

I am giving 10$!
ksplatt writes:
on November 12th, 2009 at 11:32:39 AM

@evil--nice reference to the late eddie murphy. and i only say "late" cuz all of his comedies have sucked the past decade.
Ranger writes:
on November 12th, 2009 at 12:59:35 PM

@eViL... lol.

@fresh - Sony may have (and still will). But from what we read even on here at WP a while ago... MGM was asking some crazy price.

NOTE to MGM Accountants and idiot Execs. - a Co. that's $3.7bil. in debt (incl. their assets) is worth (get ready for it...) - NOTHING! The ONLY thing ANYone is bidding on is the 'good-will' James Bond (and others) can bring in on ticket sales. Otherwise the offer posted above by other posters aren't really that bad... lol.

So... just wait for the bidding to start. I'm sure Sony will have their hand up.
RickyGabrielBird writes:
on November 12th, 2009 at 2:59:39 PM

I read that as McG. Someone should auction him.
ACTIONFIGURE writes:
on November 12th, 2009 at 3:37:32 PM

I think the fanboys of the world should put our money together and buy this studio so that good movies might be made...for once. Then, we buy the "Terminator" franchise and finally make a film in line with the first two movies.
Ranger writes:
on November 12th, 2009 at 3:54:16 PM

Plus all the ass from the ladder-climbing Starlets is always a great perk as well!
SeWerin writes:
on November 12th, 2009 at 4:00:54 PM

Okay okay, i am giving 12$ now for MGM!
Ranger writes:
on November 12th, 2009 at 4:05:13 PM

$12.25 here!
Ranger writes:
on November 12th, 2009 at 4:06:29 PM

Actually... ANYone buying this is staring down $3.7 bil. of debt.

Someone give us $4 bil. to buy this white elephant... James Bond or not isn't going to save this Company from going Lohan.
TeemSelami writes:
on November 12th, 2009 at 4:07:59 PM

at least we still have hot tub time machine
Gates writes:
on November 12th, 2009 at 4:48:00 PM

I'm donating the money I got today from the sperm bank to this cause. Well nevermind they denied me service. Something about coming (no pun intending) to the sperm bank 15 times in one day.
SeWerin writes:
on November 12th, 2009 at 4:57:30 PM

"Actually... ANYone buying this is staring down $3.7 bil. of debt."

f*ck that, that's overrated.

Here - 14$ i feel generous!
Ranger writes:
on November 12th, 2009 at 5:18:43 PM

$14.25
SeWerin writes:
on November 12th, 2009 at 5:21:14 PM

14.50$ + you get to keep and molest Daniel Craig if you back off from this offer Ranger
SpookyCupcakes writes:
on November 12th, 2009 at 5:26:07 PM

Oldboy remake GONE

and these three are almost scrapped too?

well, the recession was useful for at least one thing.
Peter Parker writes:
on November 12th, 2009 at 5:53:19 PM

@ Gates: I know, those magazines and videos they have, very good material!
And the nurses? ... very helpful!
CCBlev writes:
on November 12th, 2009 at 8:49:02 PM

ok you guys forced me, I just robbed a 7-11 to get 20 bucks to get this piece of sh*t company, 17 to buy it and the the last 3 dollars will go to a hit man to pick off brett ratner's ass once and for all!!
Ranger writes:
on November 12th, 2009 at 9:11:26 PM

OK... this has gotten too rich for my blood!
Gates writes:
on November 12th, 2009 at 10:01:32 PM

Can't we just use the $34.50 and buy porn? We'd definitely get a lot more use for it. I can't see the company going anywhere to be honest.. the only people we'd be able to hire is Lindsay Lohan and Carl Weathers. I got an STD just by looking at Lohan and Weathers would just steal all of the food.
minkowski writes:
on November 13th, 2009 at 7:42:16 PM

Damn. Blame it on piracy, right? LOL.
flymikei writes:
on November 16th, 2009 at 1:50:44 AM

funny

There's a Good Reason Why Luke Skywalker Isn't on "Star Wars: The Force Awakens" Poster

"The Walking Dead" Fan Kills Friend Who Turned Into a Zombie

Ridley Scott Reveals Another Title for "Prometheus" Sequel

"Indiana Jones" Producer Says Harrison Ford Will Not Be Recast

Johnny Depp and Edgar Wright Team for "Fortunately, the Milk"

"Spectre" Breaks Box Office Records Overseas

"Star Wars: The Force Awakens" Demolishes Pre-Sale Records

Paul Bettany Responds to Jason Statham's "Avengers" Insult

Sandra Bullock to Star in Female Version of "Ocean's Eleven"

Daniel Craig Would Rather Commit Suicide Than Return as James Bond
Lace Wedding Dresses from ViViDress UK online shop, buy with confidence and cheap price.
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