MGM is officially out of bankruptcy and ready to spend money!

All-in-all that’s not a bad deal.  This time last year, many were saying the company didn’t have a chance and no one wanted to touch it with a ten-foot pole.  Now they’ve come back from the brink and can hopefully get back on top.  With properties like The Hobbit and James Bond, surely they’ll make a come back.


Pile of Money


As far as big movies go, $500 million really isn’t as much as it sounds, however, it’s plenty to get the ball rolling on their big projects that have been waiting for a while.  If those manage to succeed (come on it’s Hobbit and Bond, can they really fail?) then that $500 million is going to grow very quickly.


I’m anticipating their next move.  They have the Red Dawn remake sitting on the shelf mostly – but not completely – finished, so I’m sure that will get some attention again, but what else.  With this announcement coming so close to the end of 2010, it wouldn’t surprise me to see MGM make a big announcement soon after the New Year about a list of upcoming movies.  I guess fans will just have to wait and see, but I for one am glad to see a studio that’s been around since the beginning of filmmaking make it through.