Sorry, did that sound too smart arsey!?
But it’s true, MGM is indeed in remission. Help is on the way. The courts have approved the company’s “pre-packaged” plan of reorganization, meaning the fiscally-fucked company can now escape Chapter 11.
“Today’s ruling is an important milestone for MGM,” said Co-Chief Executive Officer Stephen Cooper. “Thanks to the support of our lenders and the hard work of our employees, we have moved through the restructuring process quickly. By dramatically reducing MGM’s debt load and providing MGM with access to new capital, the reorganization plan the Court confirmed today will enable MGM to emerge from this process with a solid financial foundation and will position MGM to be a successful studio going forward.”
Apparently MGM plans to be back in the moviemaking business in a couple of weeks, at which stage we will likely start getting updates on the new James Bond film (which Sam Mendes was attached to direct; Daniel Craig is still onboard to play Jimmy B), the TV spin-off of “Silence of the Lambs”, the oft-rumoured new “Rocky” movie (which, I hear, is likely to go ahead sans Sly) and, most notably, the on-again off-again on-again “RoboCop” reboot that Darren Aronofsky has been circling.
Though on the backburner for the moment, Aronofsky tells ThePlaylist that he does hope to tell the story of the part-man part-machine one day.
“Well, ‘RoboCop’ may still happen one day, who knows?” he said optimistically. “It’s MGM and hopefully they’ll clear their stuff up and I’m still interested. David Self wrote a great script, but the company went under so…”
One can only hope my headline didn’t give MGM’s new owners any ideas about relaunching that franchise.