Movie/TV News

Nobuyuki · **Nobuyuki**

Sony group agrees in principle to buy MGM
Time Warner pulls bid after failing to agree on price
Reuters
Updated: 4:12 p.m. ET Sept. 13, 2004

PHILADELPHIA - A bidding group headlined by Sony Corp. agreed in principle to buy Hollywood film studio Metro-Goldwyn-Mayer for nearly $5 billion on Monday, after rival bidder Time Warner Inc. withdrew from the auction.

Comcast Corp., the biggest U.S. cable operator, will join the investors working with Sony on the deal, a source close to the discussions said.

Comcast could not immediately be reached for comment.

Sony and its partners will pay $12 a share for MGM and assume slightly less than $2 billion in debt as part of the agreement, sources close to the deal said.

MGM’s library of more than 4,000 films, including the James Bond, Pink Panther and Rocky movies, is considered its crown jewel — one that could generate solid revenue for a new owner that could reformat the films for sale in the hot DVD market.

MGM’s film studio is considered a less-sparkling asset that sources have said may ultimately be shut down.

The consortium, which also includes lead private equity investor Providence Equity Partners, Texas Pacific Group and an investment arm of Credit Suisse First Boston, proposed exclusive talks to finalize the agreement, the sources said.

Sony and its partners have paid a $150 million deposit that MGM will keep if a deal is not reached, the sources said. The group had held a period of exclusive talks with MGM in May that did not result in an agreement.

Time Warner, the world’s biggest media group, had offered a lower but more straightforward bid of $4.6 billion, according to a source close to the talks. Before Sony raised its offer, sources had said MGM favored Time Warner’s bid.

But Time Warner said in a statement on Monday that while MGM was a valuable asset, it could not agree on a price “that would have represented a prudent use of (Time Warner’s) growing financial capacity.�?

Time Warner’s decision to drop its bid once Sony upped the ante likely came as no surprise to many investors and analysts, who had expected the company to be prudent with its cash after a few painful years of debt-slashing and restructuring.

Time Warner’s decision frees it up to concentrate on the pending auction for bankrupt cable operator Adelphia Communications. Time Warner is interested in buying some or all of Adelphia, but many Wall Street analysts had predicted its role in that auction would have been reduced if it won the competition for MGM.

The Adelphia auction is soon to get under way, though the company’s books have not yet gone out and Time Warner Chief Financial Officer Wayne Pace said last week that it had not performed due diligence on the assets.

Time Warner already owns the Warner Bros. and New Line Cinema studios. Sony bought Columbia Pictures in 1989 for $3.4 billion, but big spending budgets and fizzling box office takes caused Sony a string of subsequent headaches.

Sony and its partners have now locked in financing from Credit Suisse First Boston and J.P. Morgan Chase & Co. for the bid, sources close to the discussions said.
Copyright 2004 Reuters Limited. All rights reserved.

URL: http://www.msnbc.msn.com/id/5988231/
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Daikun · **Daikun**

Well, that's good news. I didn't think MGM's merger with T-W would've worked out anyway. The company is too bloated as it is, and such a merger would make things even more hellish than the time they merged with AOL in terms of spending. (T-W subsidiary Turner Broadcasting bought the company in the 80s, and we all remember what happened then.)

Congrats to the much smaller company Sony. The Lion fits well with them.
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Toonami visual schedule - UPDATED AUGUST 2, 2015

Andromaton · **Andromaton**

Sony won't know what to do with MGM's classic properties.

Andromaton · **Andromaton**

I'll fix this thread through news!
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New Line Studios has bought screenwriter Jake Shapiro's father/daughter comedy script, WEIRDO.

The movie is about an overprotective father who is getting ready to drop his daughter at college.

The dad adopts various disguises to try to keep his kid from getting into trouble.
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Some 15 years after his teen flick HEATHERS made her famous, Winona Ryder is re-teaming with director Michael Lehmann on the indie comedy MARY WARNER.

The project is the first since Ryder's bizarre arrest for shoplifting and is an attempt to revive her career following that scandal.

The actress will play a slacker who finds herself in misadventures after eating brownies laced with marijuana.

"It's more like a dysfunctional FERRIS BUELLER'S DAY OFF than a stoner movie because the humor and characters are as much layered and sophisticated as visual," Lehmann said. "It is a good choice for Winona, who hasn't really done comedy since HEATHERS, and is very good at it."

Andromaton · **Andromaton**

Paramount Pictures has set a deal with Archie Comics to bring SABRINA, THE TEENAGE WITCH to the big screen with a live-action feature.

"While the movie will be empowering for girls, it is going to have the action and science-fiction fantasy that appeals to boys," said Archie Comics Entertainment President Allan Grafman, who will serve as a producer for the pic.

Paramount Television produced the TV version of SABRINA that ran from 1996 through 2003.
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Milla Jovovich is newly atop the box office with her zombie sequel, RESIDENT EVIL: APOCALPYSE, and already she's looking forward to a third installment in the RESIDENT EVIL franchise.

"Listen, we never expected part one to do as good as it did," she told SciFi Wire. "I always imagined it to be like a maybe cult following at best. But it was like a European action film. ... So, you know, keep our fingers crossed. It'd be great. If people want to see another one, we'll give it to them."

Andromaton · **Andromaton**

Bassett Supervising ALIAS. Film actress Angela Bassett announced during a recent interview that she will be a tare TV guest appearance on ABC’s ALIAS for at least two episodes. She will be playing a CIA field supervisor to Sydney Bristow (Jennifer Garner) in the upcoming fourth season. Angela Bassett is currently promoting her latest film, Mr. 3000.
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NEW BLADE TRAILER: E! News Live debuted the trailer for the new BLADE film on Thursday night. BLADE TRINITY stars Wesley Snipes, Ryan Reynolds and Jessica Biel were also spotlighted in the trailer, and Triple H is shown for the first time in his vampire/henchman role. New Line Cinema’s BLADE: TRINITY is set to hit theaters Dec 10
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Ritter’s family files suit: Relatives of John Ritter filing a wrongful death and malpractice lawsuit last Friday against the Burbank hospital where the comic actor died, claiming doctors misdiagnosed his heart ailment.

Andromaton · **Andromaton**

Director Jim Sheridan has come aboard IKIRU, DreamWorks' planned remake of Akira Kurosawa's 1952 film that is could star Tom Hanks.

The film tells the story of an aging bureaucrat who learns he is dying of stomach cancer. With a short time left to life, the man first turns to hedonism and then decides to pursue something more meaningful .
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Director Michael Caton-Jones in talks to helm MGM's sequel to BASIC INSTINCT.

Just two months ago producers Andy Vajna and Mario Kassar settled a lawsuit with actress Sharon Stone. Stone, who starred in the original and was set to reprise her role in the sequel, alleged the pair promised to pay her at least $14 million whether the sequel was made or not.

Now Stone is set to return as Catherine Tramell, the center of the murder mystery of the original.

The sequel was originally set for production in 2000, but several snafus caused a delay.

Andromaton · **Andromaton**

People have PASSION: Mel Gibson's THE PASSION OF CHRIST has sold nearly 9 million combined DVD and VHS copies in its first week in video stores, surpassing the record set by the debut of The Lord of the Rings trilogy.. The flick took in an estimated $9.45 million in rentals.
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HERO On DVD: Miramax announcing it will release its martial arts hit, Hero, starring Jet Li, on DVD November 30.
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Here We Go Again: Comic Book Resources is reporting on a rumor that the producers of the AQUAMAN movie are aiming to make the film a "screwball comedy".

Andromaton · **Andromaton**

Actors Heath Ledger, Geoffrey Rush and Toni Collette are returning to their native Australia to appear in films to be subsidized by the Australian government.

Ledger will appear with actor Abbie Cornish (SOMERSAULT) and Oscar-winner Rush in an adaptation of the best-selling Australian novel CANDY.

The book's author, Luke Davies, adapted the screenplay with Neil Armfield. Armfield also will direct the picture, which is said to be a story of two lovers whose lives take them on "a journey of lust, addiction and self-destruction."

Meanwhile, Collette will star in LIKE MINDS, playing a forensic psychologist trying to determine whether there is enough evidence to charge a 16-year-old boy with the murder of his schoolmate. It is the feature debut for writer-director Gregory Read.
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Paramount Pictures has bought a pitch by husband-wife team Lisa Addario and Joey Syracuse about two rivals on the women's beach volleyball tour who must learn to work together.

A source close to the project said the studio's interest was due in part by strong viewership of the recent beach volleyball competition at the 2004 Summer Olympics.

Andromaton · **Andromaton**

Warner Bros. has secured rights to '70s cop show HAWAII FIVE-O. George Nolfi, who wrote the script for OCEAN'S TWELVE, will pen the screenplay for the Warner's project.

George Litto, agent to series creator Leonard Freeman, will serve as producer of the film.

Variety said its tropical Oahu setting, popular theme song and signature lead character Steve McGarrett (played on the series by Jack Lord), HAWAII FIVE-O may be the "most remake-friendly TV series not previously under studio control."
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He may have been just two years old when the film was released, but that hasn't stopped Hayden Christensen from making an appearance in 1983's RETURN OF THE JEDI.

Christensen, who plays a younger Anakin Skywalker in the WARS prequel pics, is being inserted into a scene at the end of JEDI when it is released on DVD on Sept. 21.

The actor will appear in a scene in which Luke sees the ghosts of Yoda, Obi-Wan Kenobi and his father, Anakin. The role of Anakin in that scene was originally played by actor Sebastian Shaw. Shaw will remain as the human face behind the Darth Vader mask in a separate scene in the movie.

Andromaton · **Andromaton**

Penelope Cruz is joining the cast of a film being made by actor Ralph Fiennes' sister.

Called CHROMOPHOBIA, the movie is described as a a psychological drama set in contemporary London, written and directed by Martha Fiennes.

Ralph Fiennes will also appear in his sister's project, alongside Kristin Scott Thomas, Ian Holm, Ben Chaplin, Damian Lewis and Harriet Walters.
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For the impending release of the third season of Fox's 24 on DVD in December, a new feature was added: a 10-minute prequel that will tie into the new season.

The prequel will act as a bridge between season three and season four, which will premiere in January. It also introduces most of the new characters that will be seen in season four, including the new head of CTU and Jack Bauer's new love interest, Audrey Raines (Kim Raver). The footage will not be shown anywhere on TV in the United States. However, it will likely end up in international cuts of the show.

According to Fox marketing executive Peter Staddon, there had been discussions about producing a 25th hour of the third season for the DVD, but the logistics and multi-million dollar budget couldn't be worked out. But, when Kiefer Sutherland and other producers became excited about the idea, they decided on the 10-minute version.

"Given that we have a little extra time (for production) this year because we're premiering later, the idea of shooting extra footage seen only on DVD seemed to be a great opportunity," 20th Fox TV president Gary Newman said. He also added that people who don't see the new footage won't be lost when the new season premieres.

counterparadox · **counterparadox**

Andromaton · **Andromaton**

but you see, it's george lucas we're talking about here, he sees film like you see a pencil drawing. Anything can be "erased" and "improved" upon at anytime.

JJc14 · **JJc14**

Andromaton · **Andromaton**

essica Simpson, queen of all media?

Could be. The pop songstress and star of reality TV can add another line to her resume: the role of Daisy Duke in the planned movie version of THE DUKES OF HAZZARD.

Simpson reportedly screen-tested for the role and has now been offered the part, portrayed in the 1980s DUKES TV series by Catherine Bach.

Seann William Scott and Johnny Knoxville already have won the lead roles of Bo and Luke Duke, respectively. Jay Chandrasekhar is directing the Warner Bros. feature. A start date has not yet been set.
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The makers of THE FORGOTTEN starring Julianne Moore say took a page from Steven Spielberg when producing their forthcoming scifi thriller.

"There was a lot of discussion of how many effects to use," producer Bruce Cohen said. "One of the examples that we kept going back to, although it couldn't be more of a different movie, was JAWS and the famous story about how the shark kept breaking, so Spielberg came up with the idea to show very little of the shark and concentrate much more on the emotional terror of the characters. We definitely went with that philosophy in THE FORGOTTEN."

Moore stars as a woman who while struggling with the death of her son, learns her son never really existed. THE FORGOTTEN opens on Sept. 24.


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