By Anne Thompson | Thompson on Hollywood April 14, 2011 at 10:56AM
It feels like things are on the up-and-up at MGM, as the studio renews its home entertainment deal with Fox. Wednesday, MGM announced its five-year co-financing deal with Sony, which plans to theatrically release worldwide and help fund the next two James Bond films. Peter Jackson has finally started production on MGM/New Line/Warner Bros. co-production the Hobbit in Wellywood, New Zealand, which will be released in two parts by Warner Bros. in 2012 and 2013.
MGM renewed its worldwide Blu-ray Disc and DVD distribution pact with Fox Home Entertainment through 2016:
As part of the new agreement, Fox will now oversee electronic-sell-through for MGM titles and will continue to handle MGM’s vast and extensive movie and television library, as well as distribute several upcoming new release productions in the home entertainment market, including the next JAMES BOND film, set for global theatrical release on November 9, 2012.
Fox began managing MGM’s international home video distribution in 1999. The partnership expanded in 2006 when MGM signed a worldwide distribution pact with Fox. The MHM films going out on homevideo included the James Bond, Rocky and Pink Panther franchises, as well as West Side Story. Fox leveraged MGM’s deep catalog to offer a selection of never before released classic films and TV shows via CreateSpace’s DVD On-Demand service.