The Frodo Franchise by Kristin Thompson
 
« »

March 20 : 2010

MGM bidding deadline pushed to Monday or beyond

Variety reports today that the deadline for second-round bids in the MGM auction has been pushed from Friday, March 19 to at least Monday, March 22 and possibly beyond. No indication yet as to whether any of the three remaining bidders, Time Warner, Access Industries, and Lionsgate, have actually submitted bids.

It seems quite possible that even if they do bid, the amounts won’t satisfy MGM’s owners. If so, this is what the Variety story says might happen:

If bids fall short of expectations or no bids materialize, MGM could attempt a recapitalization through investment bank Qualia Capital through a cash infusion and a debt-to-equity transaction that would allow MGM to remain in business as a stand-alone entity.

Since turnaround specialist Stephen Cooper came on board as chairman, the debt holders have agreed three times to hold off on receiving debt payments, with the most recent extension going to March 31. MGM’s facing repayment of its $250 million revolving credit line in early April and a $1 billion payment on its $3.7 billion debt in July 2011.

Though this story doesn’t mention it, Rupert Murdoch’s News Corp. has been mentioned as a possible source for a recapitalization.

« »

    The Frodo Franchise
    by Kristin Thompson

    US flagbuy at best price

    Canadian flagbuy at best price

    UK flagbuy at best price

    Berkeley: University of California Press, 2007.
    hardcover 978-0-520-24774-1
    421 pages, 6 x 9 inches, 12 color illustrations; 36 b/w illustrations; 1 map; 1 table

    “Once in a lifetime.”
    The phrase comes up over and over from the people who worked on Peter Jackson’s The Lord of the Rings. The film’s 17 Oscars, record-setting earnings, huge fan base, and hundreds of ancillary products attest to its importance and to the fact that Rings is far more than a film. Its makers seized a crucial moment in Hollywood—the special effects digital revolution plus the rise of “infotainment” and the Internet—to satisfy the trilogy’s fans while fostering a huge new international audience. The resulting franchise of franchises has earned billions of dollars to date with no end in sight.

    Kristin Thompson interviewed 76 people to examine the movie’s scripting and design and the new technologies deployed to produce the films, video games, and DVDs. She demonstrates the impact Rings had on the companies that made it, on the fantasy genre, on New Zealand, and on independent cinema. In fast-paced, compulsively readable prose, she affirms Jackson’s Rings as one the most important films ever made.

    The Frodo Franchise

    cover of Penguin Books’ (NZ) edition of The Frodo Franchise, published September 2007. The tiny subtitle reads: “How ‘The Lord of the Rings’ became a Hollywood blockbuster and put New Zealand on the map.”