According to a new Bloomberg report, MGM plans to get the next James Bond film in theaters by November 2012, which is somewhat ambitious for a company that’s $4 billion in debt and just filed for Chapter 11 bankruptcy. “No, dude, I’ll totally pay you back. As soon as I finish my Associate’s Degree and my band starts getting some gigs, we’ll be golden.” (*bong load*)
The Los Angeles-based studio, which foundered after piling on debt to go private, filed a Chapter 11 petition today in U.S. Bankruptcy Court. About 80 percent of its creditors support a so-called pre-packaged plan to extinguish about $4 billion of debt and install managers from Spyglass Entertainment Group Inc., the producers of “The Sixth Sense.” Like Tribune Co. and the former Chrysler LLC, 86-year-old MGM filed for bankruptcy after a leveraged buyout. [Bloomberg]
They aim to have the next installment of the ‘James Bond’ series in theaters in November 2012, arriving one month before “The Hobbit” and marking one hell of a comeback, one-two punch for the studio. However, it’s not a slam dunk just yet. The studio will be seeking a partner to fund the film (MGM will retain the rights) and if all goes according to plan, future installments will arrive every two years and will be fully bankrolled and wholly owned by the studio. It’s certainly an ambitious plan but not without precedence; Bond films did arrive every two years up until the ‘90s when longer gaps appeared with the longest one marked by the six-year distance between 1989’s “License To Kill” and 1995’s “Goldeneye.” [ThePlaylist]
Perfect, just keep pumping out more Bond movies, that always works well. Anyway, I can’t wait until Bond shows up in Q’s office and finds out that his latest trick weapon is an ’87 Festiva with a spring that pokes you in the balls.