Broccoli's and Bollywood buying MGM?
Here we were all thinking that Spyglass Entertainment were going to save MGM, offering an equity deal for shares in the company to wipe out the debt as they took it over and ran it towards a profit.
However news in today suggests that there's another deal about to be placed in front of those keeping MGM alive, and it comes from the producers behind the Bond franchise who are teaming up with a big Bollywood company to make an offer for the company, and that means the first thing they would be concentrating on is Bond.
It seems that Barbara Broccoli and Michael G Wilson have created a consortium with Sahara India Pariwar, which is an Indian conglomerate that also produces, distributes and markets films with over thirty Bollywood films to its name and run by billionaire Subrata Roy.
If the deal goes through then both the Broccoli's and Sahara India Pariwar would end up with shares in the company, and that would be ideal for both the Broccoli's and the Bond franchise, for you can bet your shirt that they would ensure the next Bond film was off the ground and running as the first production, Hobbit ready or not. It would also mean that the franchise wouldn't take second place again, great news for us all.
The Guardian tried to contact the Indian company for comment, but they would only say that there were discussion taking place, but I have to say that's a pretty serious statement right there.
The article also suggests that this might be “...a cultural shift not seen in Hollywood since the 80s when Japanese investors flocked to get in on the action...”, perhaps behind the scenes it's a big cultural shift, but when Sony really stepped up to film production did we see a cultural shift? Not really. There are global deals behind the scenes already and we're not seeing a huge shift.
I think this will have the opposite effect, it will see MGM concentrate on the products and names it already has, Hobbit, RoboCop, the big back catalogue, and above all, Bond.