MGM has been put up for sale.
In 1986 MGM sold off it's back catalog consisting of films it had made upto 1986. Up for sale this time is everything made after 1986 and post 1952 titles from United Artists and post 1981 Orion pictures titles.
Metro-Goldwyn-Mayer was once the biggest movie studio in the world.
It has been in financial difficulties for many years now.
As far back as the fifties MGM was struggling and would have gone bankrupt if Ben Hur had flopped since they had practically put all their money into that production and risked the studio on it being a success. Luckily for MGM it was a success, but it was holding off the inevitable.
Whoever buys MGM will have access to the Bond catalog titles and The Silence Of The Lambs and RoboCop and they will be able to invest in better transfers for some of these older films. MGM needs stability and an owner that will re-organize the studio with better management.
The current issues with MGM are holding back many big budget films, The Hobbit and the next James Bond film are both currently delayed, Peter Jackson hopes to start filming The Hobbit later this year but the next Bond film is now indefinately delayed and this is also causing delays in the release of the Bond movies on blu ray.
It is hoped that Warner will buy the troubled studio but with debts of $4 billion dollars, a buyer may not be forthcoming which means the studio may be forced into liquidation.