MGM going broke - GoFuckYourself.com

EscortBiz · 11-14-2009, 03:05 AM

If the gov. dont take action soon re: piracy etc this will happen to all studios

http://finance.yahoo.com/news/Strugg...sset= &ccode=

LOS ANGELES (AP) -- Struggling movie studio Metro-Goldwyn-Mayer Inc. is looking for a buyer.

The home of the James Bond and Pink Panther franchises said Friday it has begun to explore strategic options including "a potential sale of the company."

In a statement, MGM also said its lenders have agreed to grant the company another respite until Jan. 31 from interest payments on nearly $4 billion in debt.

The decision, reversing its refusal to sell a year ago, came during a conference call Friday between restructuring expert Stephen Cooper, now MGM's vice chairman, and the 140 lenders owed some $3.7 billion in bonds maturing in mid-2012, according to a person close to the situation.

The person was not authorized to speak publicly and spoke on condition of anonymity.

The lenders agreed to seek outside investors for a new partnership, investment or sale of part or all of the company. Its most valuable asset is its library of 4,000 movie and TV-show titles including such as "Rocky" and "Dances With Wolves." It also owns subsidiary United Artists, headed by Tom Cruise, whose film "Valkyrie" grossed a respectable $200 million worldwide after its release last year.

But the company has fallen on hard times and the home video market has shrunk.

MGM's latest release, a remake of the 1980 musical "Fame," was panned by critics and quickly vanished from most theaters after its Sept. 25 release, making $42 million worldwide to date.

Financial adviser Moelis & Co. is expected to send out non-disclosure agreements and detailed financial information to interested parties by early next week, the person said.

Potential buyers include Time Warner Inc., the parent of the Warner Bros. studio, and News Corp., home of 20th Century Fox.

On Thursday, with rumors swirling of its potential sale, Lions Gate Entertainment Corp. Vice Chairman Michael Burns also said his company was interested in taking a look.

"They have fantastic franchises like James Bond, they have half of `The Hobbit.' Of course it's interesting to us," Burns told CNBC's Fast Money.

Although MGM had the cash on hand to make the interest payments, pushing back the interest payments allows it to complete three movies it has in the pipeline for next year: "Hot Tub Time Machine," "Red Dawn," and "The Zookeeper," the person said.

MGM was taken private for nearly $5 billion in 2005 by a group led by Providence Equity Partners, Texas Pacific Group, Sony Corp. and Comcast Corp., DLJ Merchant Banking Partners and Quadrangle Group.

In 2007, MGM made $558 million alone from its library of titles, but since then DVD sales have declined industrywide, and a large chunk of those sales has likely vanished.

Besides the bonds, has a $250 million revolving credit facility with JPMorgan due in April.

Cooper, a restructuring guru and former chief executive officer of ailing businesses from Krispy Kreme Doughnuts Inc. to Enron Corp., joined MGM as a member of an "Office of the CEO," replacing Chief Executive Harry Sloan in August.

Nautilus · 11-14-2009, 03:41 AM

How fucking sad...

AsianDivaGirlsWebDude · 11-14-2009, 03:51 AM

The copyright/anti-piracy/anti-theft laws have to catch up with the technology.

Anyone that has ever created content knows exactly what I am speaking about...

ADG

JFK · 11-14-2009, 04:02 AM

Quote:

Originally Posted by AsianDivaGirlsWebDude

The copyright/anti-piracy/anti-theft laws have to catch up with the technology.

Anyone that has ever created content knows exactly what I am speaking about...

ADG

agreed

digifan · 11-14-2009, 04:05 AM

Quote:

Originally Posted by Nautilus

How fucking sad...

Sad, yes.. but inevitable also imho.

kane · 11-14-2009, 04:06 AM

countdown to Gideon jumping in to explain how MGM could make more money if they just gave away their movies in torrents. . .

In 3

2

1 . . .

AsianDivaGirlsWebDude · 11-14-2009, 04:30 AM

Quote:

Originally Posted by kane

countdown to Gideon jumping in to explain how MGM could make more money if they just gave away their movies in torrents. . .

In 3

2

1 . . .

As if that dipshit bottom feeder has ever earned an honest dollar in his life...

Gideon keeps spinning his self-righteous, misguided, delusional and convoluted tales to justify content theft, yet if he was ever capable of producing anything himself that was ripped off, you know he would be the first one screaming to the high heavens about it.

Alas, he is to lazy/unskilled to produce anything but obfuscational drivel, while kissing the asses of those whose sites he surfs and beats off to for free.

His only purpose in life appears to be to try and justify the theft of content created by others.

The funny thing is that none of his thoughts/posts are original. It's just plagiarized nonsense that Gideon, the puppet boy, cut and pasted from his masters whose boots he licks, to make him feel as if his trolling on GFY makes a difference.

ADG

Dirty Dane · 11-14-2009, 05:10 AM

Soon there will be nothing left to pirate.
The world will be ruled by chinese propaganda movies and adult dating bots.

L-Pink · 11-14-2009, 06:07 AM

Quote:

Originally Posted by AsianDivaGirlsWebDude

The copyright/anti-piracy/anti-theft laws have to catch up with the technology.

Anyone that has ever created content knows exactly what I am speaking about...

ADG

I'm very surprised with our economy the way it is the White House hasn't done more to protect the few industries we still have with enforceable copyright laws.

.

katharos · 11-14-2009, 06:20 AM

wow mgm for sale ... incredible how much is for sale today ... with their casino project i thought "cool what a strong company" ...

Barefootsies · 11-14-2009, 07:29 AM

Quote:

Originally Posted by Nautilus

How fucking sad...

Agreed. Very sad.

american pervert · 11-14-2009, 07:36 AM

You think its piracy that is causing this? how about putting out expensive shit movies and paying producers millions just to have their names on the film. fuck hollywood.

vod · 11-14-2009, 07:43 AM

wow no wounder why they are not doing well with DVD sales slipping and casino revenue going down... maybe they should have stayed in just the movie biz...lol

MGM Grand at Foxwoods is…well…it’s so many things. It’s exciting, with 1,400 slot machines and 60 table games. It’s indulgent, with an array of world-class restaurants and celebrity chefs. It’s entertaining, with headline concerts, thrilling sporting events and non-stop nightclubs. It’s relaxing, with the incomparable G-Spa and two challenging, championship golf courses. It’s luxurious, with 825 ultra-modern guest rooms and 115,000 square feet of state-of-the-art meeting space. In a word, it’s Grand.

http://www.mgmatfoxwoods.com/About_Us.aspx

cherrylula · 11-14-2009, 08:05 AM

Quote:

Originally Posted by american pervert

You think its piracy that is causing this? how about putting out expensive shit movies and paying producers millions just to have their names on the film. fuck hollywood.

yup.

they pay these lame actors XX millions for these stupid flicks. oh gee, Fame only made 43 million so far? gimme a break.

its another bubble bursting.

TisMe · 11-14-2009, 08:16 AM

Neither piracy nor DVD sales has caused this.

The MGM film library / studio has been bought, traded and sold numerous times over the past 2 decades or so and each time ended up buried under a mountain of debt.

This is just the latest in a series of fire sales.

EscortBiz · 11-14-2009, 08:18 AM

Quote:

Originally Posted by american pervert

You think its piracy that is causing this? how about putting out expensive shit movies and paying producers millions just to have their names on the film. fuck hollywood.

listen when a company starts doing bad you have to think about what changed, paying movie stars etc lots of cash is nothing new.

american pervert · 11-14-2009, 08:22 AM

Quote:

Originally Posted by EscortBiz

listen when a company starts doing bad you have to think about what changed, paying movie stars etc lots of cash is nothing new.

plenty of people still go to the movies, in record numbers

dvd sales are there.

take a shit script, over pay talent and producers and have bad ticket sales.... thats the losing formula.

and its not like america is the only country these movies are released in.

and paying actors insanely huge amount of money is something new, past 10-15 years new.

do these ppl need 10+ million to act in some movie?

greed kills once again.

seeandsee · 11-14-2009, 08:24 AM

stupid fuckers

TheDoc · 11-14-2009, 08:34 AM

Quote:

Originally Posted by EscortBiz

If the gov. dont take action soon re: piracy etc this will happen to all studios

Quote:

Originally Posted by AsianDivaGirlsWebDude

The copyright/anti-piracy/anti-theft laws have to catch up with the technology.

Piracy had NOTHING to do with the downfall of MGM. If NO piracy ever took place, they would still be going under.

And that's a fact... just like 99% of the porn companies. But it isn't like our Industry has a clue, they still think no sales can be made from piracy..

LeCoq · 11-14-2009, 08:36 AM

Quote:

Originally Posted by american pervert

You think its piracy that is causing this? how about putting out expensive shit movies and paying producers millions just to have their names on the film. fuck hollywood.

He's got a point there...

EscortBiz · 11-14-2009, 08:39 AM

Quote:

Originally Posted by TheDoc

Piracy had NOTHING to do with the downfall of MGM. If NO piracy ever took place, they would still be going under.

And that's a fact... just like 99% of the porn companies.

thats fact lol I mean seriously you gotta be high

theft is destroying music, movies, gaming, etc

how can you say that several million downloads an hour of stolen movies will not have an effect on an industry?

TheDoc · 11-14-2009, 08:41 AM

Quote:

Originally Posted by EscortBiz

thats fact lol I mean seriously you gotta be high

theft is destroying music, movies, gaming, etc

how can you say that several million downloads an hour of stolen movies will not have an effect on an industry?

First, all 3 have posted record profits, at least once in two years - all had the biggest releases in history in the last two years. You may want to stop listening to the mpaa and actually read what's really happening.

Piracy is proven to create fans, buyers... it's proven pirates buy MORE music/movies than most people.

They are EXTREME collectors... often with 1000's of purchased CD's of music, movies and games. Like the guy in the xbox thread, pirated a game but has $15,000 in games for one console.

Every single person in this forum that has pirated or pirates, also buys.. 100% of them.

If you can't figure that out... then you shouldn't be in business.

cherrylula · 11-14-2009, 08:43 AM

Quote:

Originally Posted by EscortBiz

theft is destroying gaming, etc

WOW doesnt seem to be hurting at all. I personally dont think thigns are as bad as people make it out to be.

Wow has millions of monthly subscribers, you must buy each expansion and cannot copy the game. Gaming industry is making more than ever before. Record months...

Dirty Dane · 11-14-2009, 08:46 AM

Quote:

Originally Posted by TheDoc

Piracy is proven to create fans, buyers... it's proven pirates buy MORE music/movies than most people.

EscortBiz · 11-14-2009, 08:49 AM

Quote:

Originally Posted by TheDoc

First, all 3 have posted record profits, at least once in two years - all had the biggest releases in history in the last two years. You may want to stop listening to the mpaa and actually read what's really happening.

Piracy is proven to create fans, buyers... it's proven pirates buy MORE music/movies than most people.

They are EXTREME collectors... often with 1000's of purchased CD's of music, movies and games. Like the guy in the xbox thread, pirated a game but has $15,000 in games for one console.

Every single person in this forum that has pirated or pirates, also buys.. 100% of them.

If you can't figure that out... then you shouldn't be in business.

"Every single person in this forum that has pirated or pirates, also buys.. 100% of them."

you are high or crazy or someone involved in the business of stealing content.

I dont read or care what RIAA or any org says, the numbers dont lie. MS / Bill gates who openly said he dont mind people using stolen copies of windows has now changed his tune, and I am not referring to MS shutting down tons of people the other day with modded xboxes.

The huge rapid decline in DVD sales will continue to rise as more people get to learn how to burn DVD's and internet connections become faster.

Porn itself is on decline for two reasons a) the huge amount of stolen porn all over the place b) the huge amount of people who got robbed while joining a site

EscortBiz · 11-14-2009, 08:52 AM

Quote:

Originally Posted by cherrylula

WOW doesnt seem to be hurting at all. I personally dont think thigns are as bad as people make it out to be.

Wow has millions of monthly subscribers, you must buy each expansion and cannot copy the game. Gaming industry is making more than ever before. Record months...

things as bad as people make it? Yes some games come out and do well but a few days ago the following overall report was issued:

NPD: October video game sales tumble 19 percent

http://www.google.com/hostednews/ap/...VwAlQD9BUAPD02

cherrylula · 11-14-2009, 08:55 AM

Quote:

Originally Posted by EscortBiz

things as bad as people make it?

I meant, your "this is going to happen to every studio" stance

While one copmpany goes under, another is making record profits, you can either subscribe to the doom and gloom or look at the companies who are doing things right.

Blizzard is far from going under. Meanwhile WII are flying off shelf at $200/pop and Warcraft is about to increase members yet again. My brother bought Wii Rockband2 last night,... sales are down all around, people are broke. Gotta choose between latest Mario and paying light bill, I dont think its as bad as you guys make it though.

EscortBiz · 11-14-2009, 09:01 AM

Quote:

Originally Posted by cherrylula

I meant, your "this is going to happen to every studio" stance

While one company goes under, another is making record profits, you can either subscribe to the doom and gloom or look at the companies who are doing things right.

Blizzard is far from going under. Meanwhile WII are flying off shelf at 200/pop and Warcraft is about to increase members yet again.

thats why there are industry reports, travel industry etc, if overall there is a 19% decline in the gaming industry it dont matter that some are doing well, its important to understand why a 19% decline.

TV shows almost one by one have less viewers, some by several million less viewers, that is because people are busy online (well in some cases watching stolen porn playing with stolen software or listening to stolen songs). To say pirate bay has no effect on things and others giving people access to content that they would have to pay for otherwise is just silly.

"I dont think its as bad as you guys make it though"

numbers dont lie, id like to be all positive too, but its those people who cant see facts that end up in bankruptcy court.

TheDoc · 11-14-2009, 09:08 AM

Quote:

Originally Posted by EscortBiz

"Every single person in this forum that has pirated or pirates, also buys.. 100% of them."

you are high or crazy or someone involved in the business of stealing content.

I dont read or care what RIAA or any org says, the numbers dont lie. MS / Bill gates who openly said he dont mind people using stolen copies of windows has now changed his tune, and I am not referring to MS shutting down tons of people the other day with modded xboxes.

The huge rapid decline in DVD sales will continue to rise as more people get to learn how to burn DVD's and internet connections become faster.

Porn itself is on decline for two reasons a) the huge amount of stolen porn all over the place b) the huge amount of people who got robbed while joining a site

Ok, before the Internet... Movies, Music, Porn, VHS (vs. DVD), Games, etc.. ALL went up and down. Some went out of business, new ones came on. Big players purchased small players, and then went belly up.

BEFORE Piracy... It was like a jacked up economy was doing it.

So if an Industry posts a loss this month/quarter, it's not piracy.. when in the same year, they posted a record profits. Shocking that it could something other than piracy, I know.

DVD sales are down, the technology is changing. It's not like VHS got killed because of Piracy, it got killed because of new technology. I can now buy or rent my DVD's online, burn to a DVD to own CD or stream it.. and now I can make digital copies. <-- bingo!

Ahhh digital music the replacement technology for CD's..

Which is growing, created more bands, more followings, exposed more people to more music ever in history... oh the big bad studios call it "piracy" but us people that produce music, know it's heaven.

Now back to my Porn companies that have posted record profits this year, during a major recession as well... not all porn companies are down, actually all of my major clients are up this year over any other year in business.

Difference is... you're still marketing like it was 10 years ago, they aren't.

cherrylula · 11-14-2009, 09:09 AM

Quote:

Originally Posted by EscortBiz

"I dont think its as bad as you guys make it though"

Trends, they go up and down. I said what I said (now we playing semantics) because you claimed this was going to happen to all studios. And I still don't think things are *that* bad, simple as that. I was reading few months back it was record profits, now they going bankrupt? Lol hardly. Just like the oil industry, when profits are up you dont hear shit, but wait until they loss a point on quarterly profits and bam, the oil crisis is upon us.

TheDoc · 11-14-2009, 09:57 AM

Quote:

Originally Posted by EscortBiz

things as bad as people make it? Yes some games come out and do well but a few days ago the following overall report was issued:

NPD: October video game sales tumble 19 percent

http://www.google.com/hostednews/ap/...VwAlQD9BUAPD02

From the article...

"Not included in the October sales figures is Activision Blizzard Inc.'s "Call of Duty: Modern Warfare 2," which went on sale Tuesday and broke entertainment records on its first day in stores. According to its publisher, it raked in an estimated $310 million in North America and the United Kingdom in 24 hours."

I will agree with you that Piracy does have 'bad' impacts within OUR Industry. A clear chatter of people say, screw paying every again. I can't deny that.

So screw those people, and market to the millions that will. That creates a problem though 'marketing those other millions' when we can't reach them.

Almost like... piracy isn't our problem, the traffic flow is.

bronco67 · 11-14-2009, 10:17 AM

Anyone who thinks piracy doesn't have something to do with this, is just lying to themselves.

I hang out on Rottentomatoes forums, and you wouldn't believe the cavalier attitude most people have about watching their movies downloaded to their computers.

amacontent · 11-14-2009, 12:58 PM

[QUOTE=EscortBiz;16551046
Porn itself is on decline for two reasons a) the huge amount of stolen porn all over the place

b) the huge amount of people who got robbed while joining a site[/QUOTE]

BINGO I was one of the schmucks who got robbed joining Dancing Bear.com I never noticed the check box, $1500 later I cancelled my cc. I am supposed to know better,.imaging Joe surfer.

BUT Things will soon change over the next year That is a guarentee.

over38 · 11-14-2009, 06:53 PM

MGM - The Film Studio and MGM Mirage casinos are seperate corps. Only related by name........................

[QUOTE=katharos;16550820]wow mgm for sale ... incredible how much is for sale today ... with their casino project i thought "cool what a strong company" ...

RyuLion · 11-14-2009, 07:18 PM

they need to hold on a little longer..

BLOG BURGLAR · 11-14-2009, 07:19 PM

what a lod of shit

they make a killing on moves like James Bond and Pink Panther

it's just some kind of scam they're pulling

Joshua G · 11-14-2009, 07:58 PM

Hollywood deserves to die. Not only is the cost structure absurd & obsolete, they produce unbelievable garbage. nothing but sequels & cartoon adaptions. Its pathetic.

L-Pink · 11-14-2009, 08:24 PM

Quote:

Originally Posted by joshgirls

Hollywood deserves to die. Not only is the cost structure absurd & obsolete, they produce unbelievable garbage. nothing but sequels & cartoon adaptions. Its pathetic.

So no more movies huh?

.

Semi-Retired-Dave · 11-14-2009, 08:27 PM

Quote:

Originally Posted by katharos

wow mgm for sale ... incredible how much is for sale today ... with their casino project i thought "cool what a strong company" ...

That was a nice little project they started before the economy tanked.

Sly · 11-14-2009, 08:33 PM

Look at the three titles of movies they have coming out. Do any of them sound even remotely good?

Piracy and the recession are good scapegoats, but they don't explain away problems such as... bad movies!

dav3 · 11-14-2009, 08:50 PM

Quote:

Originally Posted by Sly

Look at the three titles of movies they have coming out. Do any of them sound even remotely good?

Piracy and the recession are good scapegoats, but they don't explain away problems such as... bad movies!

Hey, come on now. Red Dawn was a great movie...

...Back in 1984.

dav3 · 11-14-2009, 08:54 PM

Wolverinesssss!!

Semi-Retired-Dave · 11-14-2009, 08:56 PM

Quote:

Originally Posted by Sly

Look at the three titles of movies they have coming out. Do any of them sound even remotely good?

Piracy and the recession are good scapegoats, but they don't explain away problems such as... bad movies!

Even their bad movies making a killing on DVD sales. And also Foreign distribution.

WeDesignet Lisa · 11-14-2009, 08:58 PM

everybody is going broke nowadays, why wouldn't they too?

Linguist · 11-14-2009, 10:03 PM

Funny how everyone is going broke and yet this month the most profitable indie movie was released, grossing 97 million.

http://en.wikipedia.org/wiki/Paranor...ce_performance

With the piracy running rampant the box office doesn't seem to be doing all that bad either
http://boxofficemojo.com/daily/chart...9-11-14&p=.htm

Movies are still making millions per day. We built up the culture of movie celebs earning millions per movie, time for the bubble to burst and to start to fucking innovate. Instead of superstars getting paid millions per movie perhaps they should suck it up and get paid something more reasonable. Which will still be $100+/hour.

Dinosaurs die. Too bad. I don't feel bad for MGM going broke at all.

EscortBiz · 11-14-2009, 10:10 PM

Quote:

Originally Posted by Linguist

Funny how everyone is going broke and yet this month the most profitable indie movie was released, grossing 97 million.

http://en.wikipedia.org/wiki/Paranor...ce_performance

With the piracy running rampant the box office doesn't seem to be doing all that bad either
http://boxofficemojo.com/daily/chart...9-11-14&p=.htm

Movies are still making millions per day. We built up the culture of movie celebs earning millions per movie, time for the bubble to burst and to start to fucking innovate. Instead of superstars getting paid millions per movie perhaps they should suck it up and get paid something more reasonable. Which will still be $100+/hour.

Dinosaurs die. Too bad. I don't feel bad for MGM going broke at all.

its like saying no one is doing bad financially because some guy in a trailer won the 150 million dollar lotto

piracy is destroying entire industries, those doing it are yelling it isnt, paying celebs big bucks is a tiny % of what is causing movie production houses to lose money

TheDoc · 11-14-2009, 11:06 PM

Quote:

Originally Posted by EscortBiz

its like saying no one is doing bad financially because some guy in a trailer won the 150 million dollar lotto

piracy is destroying entire industries, those doing it are yelling it isnt, paying celebs big bucks is a tiny % of what is causing movie production houses to lose money

You missed one, those turning a blind eye to the truth secretly are pirates wanting to horde the money.

Piracy fueled the growth of Music, Movies, Games and Software over the last 15 years.

These Industries have not 'reduced' in size, they have grown, EXTREMELY grown, along with Piracy. As Piracy continues to grow, and these Industries continue to grow.

Something dropping, like DVD sales is not a sign of Piracy. It's a sign of new technology, even more so when it can be proven that Digital Sales and Rentals hurt the DVD business.

This is one example of many...

You may want to "research" your theory some more.

PornMD · 11-14-2009, 11:07 PM

Quote:

Originally Posted by Linguist

Funny how everyone is going broke and yet this month the most profitable indie movie was released, grossing 97 million.

Meh, Blair Witch did $140+ million pre-social media. Paranormal is only most profitable in terms of %, which given Blair Witch only cost $50k more to make tens of millions more and in 1999 before a MySpace, Facebook, Twitter or YouTube could really be used to more easily viral it online...

I think if not for f'd up economy, piracy etc. it could have done a lot better given how successful their marketing was.

Elli · 11-14-2009, 11:14 PM

When a studio lists one of its top properties as the Pink Panther movies, well that says a ton right there. Who would even bother to pirate that?

EscortBiz · 11-14-2009, 11:19 PM

Quote:

Originally Posted by TheDoc

You missed one, those turning a blind eye to the truth secretly are pirates wanting to horde the money.

Piracy fueled the growth of Music, Movies, Games and Software over the last 15 years.

These Industries have not 'reduced' in size, they have grown, EXTREMELY grown, along with Piracy. As Piracy continues to grow, and these Industries continue to grow.

Something dropping, like DVD sales is not a sign of Piracy. It's a sign of new technology, even more so when it can be proven that Digital Sales and Rentals hurt the DVD business.

This is one example of many...

You may want to "research" your theory some more.

Lets talk about the porn industry itself, less money is spent now then ever on porn memberships and porn DVD's, is piracy not a factor?

Music industry, same talent of today who ear a million a month would be earning 10 million a month pre internet file sharing days.

What the fuck are you talking about?

You know something nobody else knows, companies spend millions fighting file sharing yet maybe if they would have a chat with you they will realize that they should push people to steal their shit so they can make more money.

Countries are passing serious laws against file sharing, shouldn't music and movie companies be pissed, according to you thats whats making them the money.

There is only so much time in the day, if someone spends an hour a day watching a stolen movie thats a hour that will never be replaced with him watching something he should of paid for.

I know im talking to a wall and I wont change your view as its obviously your business to help those who steal, but im sure others here reading would like to see both viewpoints.

11-14-2009, 03:05 AM	#1
EscortBiz Fuck Checks, CASH only! Join Date: May 2002 Location: New York City Posts: 19,422	MGM going broke If the gov. dont take action soon re: piracy etc this will happen to all studios http://finance.yahoo.com/news/Strugg...sset= &ccode= LOS ANGELES (AP) -- Struggling movie studio Metro-Goldwyn-Mayer Inc. is looking for a buyer. The home of the James Bond and Pink Panther franchises said Friday it has begun to explore strategic options including "a potential sale of the company." In a statement, MGM also said its lenders have agreed to grant the company another respite until Jan. 31 from interest payments on nearly $4 billion in debt. The decision, reversing its refusal to sell a year ago, came during a conference call Friday between restructuring expert Stephen Cooper, now MGM's vice chairman, and the 140 lenders owed some $3.7 billion in bonds maturing in mid-2012, according to a person close to the situation. The person was not authorized to speak publicly and spoke on condition of anonymity. The lenders agreed to seek outside investors for a new partnership, investment or sale of part or all of the company. Its most valuable asset is its library of 4,000 movie and TV-show titles including such as "Rocky" and "Dances With Wolves." It also owns subsidiary United Artists, headed by Tom Cruise, whose film "Valkyrie" grossed a respectable $200 million worldwide after its release last year. But the company has fallen on hard times and the home video market has shrunk. MGM's latest release, a remake of the 1980 musical "Fame," was panned by critics and quickly vanished from most theaters after its Sept. 25 release, making $42 million worldwide to date. Financial adviser Moelis & Co. is expected to send out non-disclosure agreements and detailed financial information to interested parties by early next week, the person said. Potential buyers include Time Warner Inc., the parent of the Warner Bros. studio, and News Corp., home of 20th Century Fox. On Thursday, with rumors swirling of its potential sale, Lions Gate Entertainment Corp. Vice Chairman Michael Burns also said his company was interested in taking a look. "They have fantastic franchises like James Bond, they have half of `The Hobbit.' Of course it's interesting to us," Burns told CNBC's Fast Money. Although MGM had the cash on hand to make the interest payments, pushing back the interest payments allows it to complete three movies it has in the pipeline for next year: "Hot Tub Time Machine," "Red Dawn," and "The Zookeeper," the person said. MGM was taken private for nearly $5 billion in 2005 by a group led by Providence Equity Partners, Texas Pacific Group, Sony Corp. and Comcast Corp., DLJ Merchant Banking Partners and Quadrangle Group. In 2007, MGM made $558 million alone from its library of titles, but since then DVD sales have declined industrywide, and a large chunk of those sales has likely vanished. Besides the bonds, has a $250 million revolving credit facility with JPMorgan due in April. Cooper, a restructuring guru and former chief executive officer of ailing businesses from Krispy Kreme Doughnuts Inc. to Enron Corp., joined MGM as a member of an "Office of the CEO," replacing Chief Executive Harry Sloan in August. __________________ Spanking, Medical Fetish, Sleeping, Strap-on Anal Lesbians, Girls Fucking Guys, Handjob site REAL HOT, Shemales, Anal and Ass Licking sites 100% Real EXCLUSIVE with amazing retention, ccbill payouts, lots of content FREE FTP HOSTING Promote the largest and oldest member paid escort site, Converts 10 times better then any dating site, CCBill payouts ICQ# 158802076

11-14-2009, 03:41 AM	#2
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11-14-2009, 03:51 AM	#3
AsianDivaGirlsWebDude Purveyor, Fine Asian Porn Industry Role: Join Date: Jul 2004 Location: San Francisco Bay Area Posts: 38,323	The copyright/anti-piracy/anti-theft laws have to catch up with the technology. Anyone that has ever created content knows exactly what I am speaking about... ADG __________________ Asian Diva Girls - Exclusive Photos and Videos Asian Diva Girls Affiliate Program (50% ccBill Revshare)

11-14-2009, 07:36 AM	#12
american pervert Confirmed User Join Date: Sep 2002 Location: Los Angeles Posts: 6,829	You think its piracy that is causing this? how about putting out expensive shit movies and paying producers millions just to have their names on the film. fuck hollywood. __________________ I can resist everything except temptation

11-14-2009, 07:43 AM	#13
vod Confirmed User Join Date: Jan 2006 Posts: 3,510	wow no wounder why they are not doing well with DVD sales slipping and casino revenue going down... maybe they should have stayed in just the movie biz...lol MGM Grand at Foxwoods is…well…it’s so many things. It’s exciting, with 1,400 slot machines and 60 table games. It’s indulgent, with an array of world-class restaurants and celebrity chefs. It’s entertaining, with headline concerts, thrilling sporting events and non-stop nightclubs. It’s relaxing, with the incomparable G-Spa and two challenging, championship golf courses. It’s luxurious, with 825 ultra-modern guest rooms and 115,000 square feet of state-of-the-art meeting space. In a word, it’s Grand. http://www.mgmatfoxwoods.com/About_Us.aspx __________________ Adult Merchant Account

11-14-2009, 04:06 AM	#6
kane Too lazy to set a custom title Join Date: Aug 2001 Location: portland, OR Posts: 20,684	countdown to Gideon jumping in to explain how MGM could make more money if they just gave away their movies in torrents. . . In 3 2 1 . . .

11-14-2009, 05:10 AM	#8
Dirty Dane Sick Fuck Industry Role: Join Date: Feb 2004 Location: www Posts: 9,491	Soon there will be nothing left to pirate. The world will be ruled by chinese propaganda movies and adult dating bots.

11-14-2009, 06:20 AM	#10
katharos So Fucking Banned Join Date: Nov 2005 Posts: 1,515	wow mgm for sale ... incredible how much is for sale today ... with their casino project i thought "cool what a strong company" ...

11-14-2009, 08:16 AM	#15
TisMe Confirmed User Join Date: Aug 2008 Posts: 1,719	Neither piracy nor DVD sales has caused this. The MGM film library / studio has been bought, traded and sold numerous times over the past 2 decades or so and each time ended up buried under a mountain of debt. This is just the latest in a series of fire sales.

11-14-2009, 08:24 AM	#18
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	stupid fuckers __________________ BUY MY SIG - 50$/Year Contact here

11-14-2009, 10:17 AM	#32
bronco67 Too lazy to set a custom title Join Date: Dec 2006 Posts: 29,035	Anyone who thinks piracy doesn't have something to do with this, is just lying to themselves. I hang out on Rottentomatoes forums, and you wouldn't believe the cavalier attitude most people have about watching their movies downloaded to their computers. __________________

11-14-2009, 12:58 PM	#33
amacontent STANLEY CUP CHAMPION ! Industry Role: Join Date: Feb 2003 Location: Los Angeles Posts: 12,811	[QUOTE=EscortBiz;16551046 Porn itself is on decline for two reasons a) the huge amount of stolen porn all over the place b) the huge amount of people who got robbed while joining a site[/QUOTE] BINGO I was one of the schmucks who got robbed joining Dancing Bear.com I never noticed the check box, $1500 later I cancelled my cc. I am supposed to know better,.imaging Joe surfer. BUT Things will soon change over the next year That is a guarentee. __________________ Joe Loughlin [email protected] TEAM- joeloughlin. Telegram - AMA_JOE https://www.amaproduction.com

11-14-2009, 06:53 PM	#34
over38 Confirmed User Industry Role: Join Date: Aug 2002 Location: USA Posts: 460	MGM - The Film Studio and MGM Mirage casinos are seperate corps. Only related by name........................ [QUOTE=katharos;16550820]wow mgm for sale ... incredible how much is for sale today ... with their casino project i thought "cool what a strong company" ... __________________ Mainstream Blazing Fast SSD WordPress Hosting As Low As $4.97/month! USA Based Support !

11-14-2009, 07:18 PM	#35
RyuLion ClubDomCash.com Industry Role: Join Date: Mar 2003 Location: San Diego Posts: 32,174	they need to hold on a little longer.. __________________ Adult Biz Consultant A tech head since 1995

11-14-2009, 07:19 PM	#36
BLOG BURGLAR So Fucking Banned Join Date: Oct 2005 Posts: 129	what a lod of shit they make a killing on moves like James Bond and Pink Panther it's just some kind of scam they're pulling

11-14-2009, 07:58 PM	#37
Joshua G dumb libs love censorship Industry Role: Join Date: Jul 2008 Posts: 8,198	Hollywood deserves to die. Not only is the cost structure absurd & obsolete, they produce unbelievable garbage. nothing but sequels & cartoon adaptions. Its pathetic.

11-14-2009, 08:33 PM	#40
Sly Let's do some business! Industry Role: Join Date: Sep 2004 Location: Austin, TX Posts: 31,289	Look at the three titles of movies they have coming out. Do any of them sound even remotely good? Piracy and the recession are good scapegoats, but they don't explain away problems such as... bad movies! __________________ Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted Wanted: CCBill pay sites for sale

11-14-2009, 08:54 PM	#42
dav3 Confirmed User Industry Role: Join Date: May 2007 Posts: 7,348	Wolverinesssss!! __________________ Webmasters :: Juicy Ads :: ACWM :: Crak Revenue :: Money Tree

11-14-2009, 08:58 PM	#44
WeDesignet Lisa Confirmed User Join Date: Oct 2009 Posts: 182	everybody is going broke nowadays, why wouldn't they too? __________________ WeDesig.net - How Can We Web You? Let us design your next Awesome Website, just email me: Lisa(at)wedesig.net

11-14-2009, 10:03 PM	#45
Linguist Confirmed User Join Date: Apr 2004 Location: Toronto, ON Posts: 1,706	Funny how everyone is going broke and yet this month the most profitable indie movie was released, grossing 97 million. http://en.wikipedia.org/wiki/Paranor...ce_performance With the piracy running rampant the box office doesn't seem to be doing all that bad either http://boxofficemojo.com/daily/chart...9-11-14&p=.htm Movies are still making millions per day. We built up the culture of movie celebs earning millions per movie, time for the bubble to burst and to start to fucking innovate. Instead of superstars getting paid millions per movie perhaps they should suck it up and get paid something more reasonable. Which will still be $100+/hour. Dinosaurs die. Too bad. I don't feel bad for MGM going broke at all. __________________ 315-310

11-14-2009, 11:14 PM	#49
Elli Reach for those stars! Industry Role: Join Date: Apr 2003 Location: Vancouver, BC Posts: 17,991	When a studio lists one of its top properties as the Pink Panther movies, well that says a ton right there. Who would even bother to pirate that? __________________ Make More Money with Cams and Dating at FFN.com! email: [email protected]