007 could get Bollywood-style makeover

[Blowfeld]

By London Bureau

LONDON (MarketWatch) -- India film company Reliance Big Entertainment is preparing to bid for Metro-Goldwyn-Mayer Inc. in a move that would bring Bollywood deeper in to Hollywood, the Financial Times reported Saturday without citing sources.

The Indian firm - owned by billionaire Anil Ambani - was one of about a dozen groups preparing offers Friday for debt-laden MGM, the film studio behind classics such as Gone With The Wind and whose assets include the James Bond franchise.

The Financial Times said Time Warner Inc. (TWX 28.16, -0.63, -2.19%) is seen as the favorite in the auction, given the strength of its Warner Bros. library and its large cash reserves after spinning off its cable arm.

Newspaper Web site: www.ft.com

One more slightly different

London, Jan 17 (ANI): Metro-Goldwyn-Mayer, the studio behind the James Bond franchise, could end up getting a Bollywood makeover if a billion-dollar movie deal goes through.

MGM is in a financial crunch right now, and is set to be bailed out by Indian movie giants Reliance Big Pictures, which is owned by tycoon Anil Ambani, 60.

Ambani wants to snap up MGM for a knockdown price of about 1.5 billion dollars, and a source close to him has revealed he wants buy the studio to help his bid to become the world’s most powerful movie mogul.

If the deal goes through, Ambani will gain the rights to the Bond movies.

Ambani already owns a stake in Steven Spielberg’s DreamWorks studio and has struck deals with Brad Pitt, George Clooney, Jim Carrey and Julia Roberts to develop their films.

“Anil is desperate to become the biggest mover and shaker in world movies and buying MGM is central to that plan,” the Daily Star quoted a source as saying.

More at : 007 could get Bollywood-style makeover http://www.thaindian.com/newsportal/ent ... z0cuqMqJ3v

[The Sweeney]

Interesting....I'll do some digging with my contacts here in Delhi.

[katied]

The only thing that would be worse is a 3D Bollywood Bond film!

[Kristatos]

So because the possible new owner of MGM is Indian, they automatically assume that he will give all MGM films "a Bollywood-style makeover". Bit racist, innit?

[The Sweeney]

So because the possible new owner of MGM is Indian, they automatically assume that he will give all MGM films "a Bollywood-style makeover". Bit racist, innit?

In a way it could be perceived as a Bollywood style make-over. They would probably use the post production facilities in Mumbai rather than Soho in London, for instance. Cheaper technicians from India may be employed. Equipment hire may be done from India rather than anywhere else.....who knows.

So in that sense, it would be getting a Bollywood style make-over, in all but the actual film itself (script, cast, director, producers, etc.)

[Kristatos]

So in that sense, it would be getting a Bollywood style make-over, in all but the actual film itself (script, cast, director, producers, etc.)

Yeah, but the phrase "Bollywood-style makeover" seemed to imply that the next Bond film would be three hours long and feature random song and dance numbers and absolutely no kissing.

[007]

It's just tabloid laziness.

[katied]

It's just tabloid laziness.

The tabloid rumors are especially bizarre this time around!

[Omega]

wow! This guy came from nowhere to snatch up Bond! Wow!

[John Drake]

It's not a done deal though is it?

[The Sweeney]

It's just tabloid laziness.

The tabloid rumors are especially bizarre this time around!

This is not a rumour though....the Indian company is actually bidding for it.

[katied]

Oh lord..one can imagine the sort of ideas that may come out of this.

[Mazer Rackham]

It's just tabloid laziness.

The tabloid rumors are especially bizarre this time around!

This is not a rumour though....the Indian company is actually bidding for it.

Too right. Remember this is the very same fellow who had Steven Spielberg scrambling to close a deal with him last year. The first rounds of bidding have just ended, curious that the Reliance Pictures bid has more or less been outed. Could be MGMs play to attempt to convince some of the others to up their bid. Or not, I would be very surprised if WB didn't make a serious play for MGM in toto.

Anil Ambani is not to be taken lightly he is a very able player in on the big deals. Very ambitious. His group is looking to close deals in the next few months in a variety of industries. MGM would be a good get for them.

I think whoever will own the half share in Bond we will see a different more active involvement in the franchise. Too much will be at stake to leave it to the discretion of the listless headship it has at the moment.

[katied]

I think whoever will own the half share in Bond we will see a different more active involvement in the franchise. Too much will be at stake to leave it to the discretion of the listless headship it has at the moment.

We can hope.

[Mazer Rackham]

Small Friday update for all the loyal Bonders out there.

Anil Ambani is not going to be buying MGM, his bid as reported were among those in the shallow end of the pool. Not that the higher bids were significantly more substantial.

The value of the studio is far below their debts, some more foot work will likely required to satisfy any potential buyers. Whats going wrong for them: The Bond franchise isn't even worth close to half of that they wanted it to be. Bond 23 prospects while not unappetizing are not as substantive as they could be to potential buyers once all is said and done when the money is in the bank. Some doubts over potential of Bond 23 after Quark had a lukewarm performance and a very scary drop in dvd and Blu-ray sales from the previous outing.

No doubt their ownership of the Bond Franchise if a significant asset. The other albatross around their neck is their vaunted library of movies isn't worth half of what it was in 2005 and will likely be worth even less in 2011-2012. The DVD market is getting weaker and will not recover, blu-ray will be a small blip overall but will never replace dvd as planed. The industry missed all the signs from consumers and mishandled DVD and Blu-ray and have completely misunderstood the pros and cons to Digital distribution.


Concern over the economy are very much a hindrance, but that is being balanced and weighed out for longer term prospects over 5 to 10 years.


While it is not over there are two main contenders positioning themselves for the best way to take over. Although the circumstances involved still can completely change in a moment.

[Mazer Rackham]

I have to make this quick. The admin should round up all these MGM threads in to one to make them easier to update.

MGM is asking for further extension from their creditors, another 3 months.

Out of 20 invitations only 7 respond by submitting a bid. None of the bids reached $2 billion for the studio as a whole, in fact they fell short of that initial goal.
Fox is finally getting around to making a nonbinding offer soon, however they had serious objections to the non-compete clauses.
A Second round should be ramping up soon

[katied]

Non-binding..so if it the next Bond film crap, they can walk away from the Bond franchise no harm, (almost) no foul?

[Mazer Rackham]

Not a lot to report this week, Creditors extended the grace period and Fox's non committal bid is being mulled over.

[katied]

Speaking in general.. Fox has the right idea by having a non- binding contract.That way if they have any trouble with the Bond films they can drop it like a bad habit.

[Mazer Rackham]

What? no idea what you are getting at deary.

Fox is trying to play it like well a fox. Sneaking in after everyone else has already bid and offering a noncommittal bit. If anything were ever agreed to their would be binding agreements.