According to the report by ScreenRant.com, the world’s oldest studio is looking to sell its entire studio. This also includes the vast film library that includes the James Bond Series. The MGM studio was named after the collaboration of the three studios: Metro Pictures, Goldwyn Pictures, and Louis B. Mayer Pictures. This was done for the movie by legend Marcus Loew in the year 1924.
The most popular series from the studio is James Bond with EON productions from the beginning. The series is now about to come up with the 25th movie No Time to Die starring Daniel Craig. The movie is being delayed due to the pandemic and is pushed to 2021. The Studio has many big movies under its name that include the Hobbit trilogy, Sylvester Stallone’s Rocky pictures, the Pink Panther series and so on. It also has a number of TV series, from Stargate SG-1 to The Handmaid’s Tale.
The studio in the last decade had many companies to distribute its movies following its bankruptcy in 2009. This time it looks like the company won’t survive until the last of this pandemic. In the post by the Wall Street Journal MGM is actively looking to sell the studio. According to the report, the present value of MGM is $5.5 billion with all the titles not only current but the entire collection. The owners are confident that a streaming service might reach them to expand its service by paying a high amount.
2020 had many studios into losses as there were very few movies to hit the theatres. If the sale of MGM goes fine then this will be the first studio to be crushed by the pandemic. MGM had zero major theatre releases this year. There was a rumour about not willing to sell the No Time to Die to any streaming services earlier.
If the sale of the studio happens we might even see No Time to Die in any streaming services also.
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