Movies

Spyglass Entertainment likely to take control of MGM

MUMBAI: Spyglass Entertainment is in the last lap of coming to an agreement to take control of debt-ridden Metro-Goldwyn-Mayer (MGM).


Both MGM and Spyglass have agreed on major points including how much Spyglass founders Gary Barber and Roger Birnbaum would be compensated in management fees and equity, but a few issues still need to be resolved. Barber and Birnbaum would receive an ownership stake of 4 to 5 per cent in the restructured MGM, it is believed.


According to a plan that Spyglass presented to leading creditors of MGM, Barber and Birnbaum would run a scaled-back version of the studio as co-chief executives. Under a restructuring plan, the creditors would swap their debt for equity.


However, a major point, of a breakup fee that Spyglass would be paid if MGM decides to back out of the arrangement, is still to be decided.


Spyglass, however, would remain a separate company and will continue to produce its own slate of movies. If the deal goes through, a part of the Spyglass library of about 15 films like The Sixth Sense and Seabiscuit, personally owned by Barber and Birnbaum, would become a part of MGM‘s own catalogue of 4,000 films.


Barber and Birnbaum have conveyed to MGM authorities that they plan to slash overhead costs and produce a few films on a yearly basis including James Bond sequels and two planned films with Warner Bros.‘ New Line Cinema.


MGM creditors have been weighing several options for survival as a stand-alone company. They are considering the proposed mergers with Summit Entertainment and Lions Gate Entertainment. They are also looking into Time Warner Inc’s long-standing $1.5 billion bid to acquire MGM.
 

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/07/16/itefaq.jpg?itok=fGJalpV2
&pictures to air Sonakshi Sinha and Sidharth Malhotra’s spine-chilling thriller Ittefaq on Saturday, 21st July 2018 at 8pm

A CBI officer is assigned a double murder case which involves two witnesses who are also the prime suspects of the case.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/07/16/monkey.jpg?itok=sIvYnOZJ
Zee Action to air The Monkey King 2 on Saturday, 21st July at 8pm

Five hundred years after the Havoc in Heaven, the Tang Priest is appointed by Buddha to go to the West to fetch the sacred scriptures

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/07/14/ze.jpg?itok=YQyBu88B
Zee to launch Zee Classic HD channel

The Punit Goenka-led Zee Entertainment Enterprises Ltd (ZEEL), is all set to launch Zee Classic's HD version.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/07/13/shemaroo-india.jpg?itok=QuMAHO8k
Shemaroo Entertainment Releases Padmaavat On Blu-ray and DVD for Cinema Lovers

Shemaroo Entertainment Limited, one of India’s leading global content power house, released the Blu-rays and DVDs of Sanjay Leela Bhansali’s magnum opus, Padmaavat- one of the most expensive Indian films ever made.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/07/10/pvr.jpg?itok=M9t6_7O-
Al-Futtaim, PVR sign MoU to explore opportunities in MENA region

Multiplex operator PVR signed a memorandum of understanding (MoU) with Dubai's Al-Futtaim to explore opportunities to jointly develop cinema business in the Middle East and North Africa (MENA) region.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/prive_0.jpg?itok=qQCaZENk
&Privé HD to premiere the psychological thriller ‘The Gift’ on 23rd June

&Privé HD, the premium destination for nuanced cinema, is all set to premiere the American mystery-thriller The Gift on Saturday, 23rd of June at 1:00 pm and 9:00 pm. The movie marks the directorial debut of actor Joel Edgerton who also plays a central character along with Jason Bateman and...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/11/pvr.jpg?itok=ttyHOxWD
PVR Cinemas pilots the Delhi Edition of the Year Round Programme by MAMI

PVR Cinemas, with its storied history of becoming the leading exhibitor and an eminent platform for all things cinematic launched the Year Round Programme by Mumbai Academy of Moving Image (MAMI) in Delhi.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/08/Rishi.jpg?itok=vh85U021
Banijay Asia ropes in Rishi Negi as chief operating officer

Banijay Asia, founded by Deepak Dhar, has appointed Rishi Negi as chief operating officer (COO). The group recently announced its entry into the region with a commitment of producing scripted and non-scripted content across genres including digital and films for India and South East Asia. Negi...

Movies Independent
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/25/hiren.jpg?itok=NZNnxk8P
Shemaroo gears up for digital era; adds devotional app Ibaadat

MUMBAI: Right at the opportune time, one of India’s oldest media companies, Shemaroo Entertainment, has launched a new devotional app called Ibaadat. The Islamic devotional app will contain live feeds, devotional tunes, an e-commerce platform, donation service, etc. Over time, customer feedback...

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories