Thompson on Hollywood

McAvoy Joins X-Men, Polley's Take This Waltz, Newsweek's New Look

- Director Matthew Vaughn has cast Wanted star James McAvoy to play the role of the young Charles Xavier (created by Patrick Stewart) in Fox's next X-Men installment, the origin story X-Men: First Class. We like The Playlist's casting suggestion of Michael Fassbender (Inglourious Basterds) to play Xavier's evil opposition, Magneto (originally Ian McKellen).

By Sophia Savage
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May 28, 2010 4:12 AM
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Alice To Pass $1 Billion, Hollywood for Sale, Bale Talking Hillcoat Flick

-Disney's Alice in Wonderland will cross the $1 billion worldwide box-office threshold tomorrow, marking the sixth movie to do so and a record for a springtime release. With over $332 million domestic and $667 million foreign, Alice in Wonderland is Disney's second-highest grosser behind Pirates of the Caribbean: Dead Man's Chest ($1.07 billion worldwide).

By Sophia Savage
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May 26, 2010 3:25 AM
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MGM Accepts Bids, Extends Debt Deadline

In anticipation of a reported $1.5 billion bid by Time Warner, MGM extended the deadline for the close of bidding from Friday to Monday, reports Reuters: "Lions Gate Entertainment and billionaire Len Blavatnik's industrial holding company Access Industries have put in second-round bids for Metro-Goldwyn-Mayer, but Time Warner Inc is still considering a bid, sources told Reuters on Monday."

By Anne Thompson
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March 22, 2010 11:46 AM
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MGM Gains Another Lender Extension

As MGM gets yet another extension on having to pay back its lenders--until March 31--it shows that finally it is in the interest of investors to keep the company afloat. The same thing is behind the Weinstein Co.'s new lease on life, as its investors are allowing the company to keep money coming into its coffers in the near term in order to fund and release more movies that might turn out to be profitable. Similarly, while Michael London's Groundswell has lost much of its money (I hear some $50 million) and TPG/Axon pulled its remaining equity (its corporate parent TPG also took a bath on MGM), Groundswell lender Comerica has fronted the company enough to keep it afloat--hoping for an eventual recovery.

By Anne Thompson
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January 29, 2010 9:43 AM
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Bond 23 Update: Sam Mendes in Talks to Direct

When your career needs a boost and there are few available top-dollar jobs: take a franchise.

By Anne Thompson
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January 5, 2010 11:20 AM
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Bond Producers Put Number 23 On Hold

Writer Peter Morgan (The Queen) worked on a first draft of Bond 23 that he described as a "shocking story" from July until October last year, followed by regular writers Neal Purvis and Robert Wade. But EON Productions has put pre-production work on the film on hold pending the resolution of distributor MGM's sale, reports Bond site Mi6. Producers Michael G. Wilson and Barbara Broccoli told Total Film Magazine: "Our timeline's a little up in the air what with the situation at MGM, so we have to be flexible. We just don't know enough about the situation to comment, but we know it's uncertain."

By Anne Thompson
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January 5, 2010 12:15 AM
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MGM Catches Reprieve from Lenders, Part Deux

For the second time, MGM is catching a break from its lenders, as the venerable studio officially goes on the block. It has been fighting to stay in business, while keeping up with even the interest owed on its staggering $3.7-billion debt. So far MGM has avoided being forced into bankruptcy by its creditors, which would have decreased the value of the company, which still owns a 4,000-title movie library as well as the Bond and Pink Panther franchise. UPDATE: Potential buyers include Lions Gate, Time Warner and Viacom.

By Anne Thompson
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November 14, 2009 2:42 AM
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Epix Launches October 30

When I first heard that three studios--Lionsgate, MGM and Paramount--were bypassing pay-TV deals in favor of a new online streaming venture, I thought the new distribution order was at hand. While the other studios were still hung up on the old ancillary paradigm, this gang was skipping windows and jumping into the future.

By Anne Thompson
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October 30, 2009 12:45 PM
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MGM Catches Reprieve from Lenders

MGM has been under serious duress as it attempts to stay in business, while keeping up with even the interest owed on its staggering $3.7-billion debt. While the following statement indicates that the company will be relieved of three interest payments, there are miles to go before MGM comes out in the clear. The struggling studio has avoided being forced into bankruptcy by its creditors, which would have decreased the value of the company, which still owns a 4,000-title movie library as well as the Bond and Pink Panther franchises.

By Anne Thompson
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October 1, 2009 11:27 AM
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Hollywood Health Report

Each day brings more news of a troubled company needing debt restructuring or a management overhaul. The Weinstein Co. and MGM are just the latest examples. All the studios face pressure from their corporate parents in a grim recession amid declining ad and DVD revenues. Sales are down across the board, including classic rereleases, and less precipitously, specialty titles.