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October 30, 2020

Rumor/Report: MGM Tried to Sell James Bond Film "No Time to Die" Film to Streaming Services for $600 Million, But They Said "Nah, Son"

James Bond will not return... to theaters?

Netflix and Apple would only offer about $300 million. The movie cost $250 million to make.

But, on the other hand, if they dump it into the theaters, it'll make... what? 30 million in the whole US?

The film has already lost 30 to 50 million dollars just due to delays.

MGM denies the rumor:

"We do not comment on rumors. The film is not for sale. The film’s release has been postponed until April 2021 in order to preserve the theatrical experience for moviegoers," an MGM spokesperson told Variety.

However, multiple insiders at rival studios and companies said that a possible Bond sale was explored overtly, and believe that MGM was at least open to the possibility of unloading their crown jewel for a princely sum. The studio was said to be looking for a deal of roughly $600 million -- a price tag that was deemed too rich for two of the free-spending streaming services. A sale of this magnitude would be led exclusively by Kevin Ulrich, the chairman and CEO of MGM's majority owner Anchorage Capital Group, insiders said.

There's declining demand for Daniel Craig's overly serious, overly woke Bond in the first place, nevermind with all the covid fear.

I bet it does come to TV.

Because MGM really wants to finally release this somewhere -- it's costing them $1 million per month in interest costs, and they also keep spending money for marketing every four months for a film which never comes out.

MGM financed No Time To Die with a large loan, which is typical of many big budget movies, but the ongoing delays to release have meant that interest is beginning to build up and will not be paid off until the movie hits screens. The report includes a quote from Hal Vogel, CEO of Vogel Capital Research, who says that the studio is now struggling, and they are far from the only one.

"MGM is suffering. Every major distributor at this point has a pile of unreleased expensive movies. The pile grows larger by the day. These films are inventory. They are sitting there with no return on their investment. Even with low interest rates, the interest costs are piling up. So going the streaming route is not that crazy. You've spent the money. And you're not getting it back anytime soon."


Let it be A Fine Time to Die for Hollywood.

To hell with these animals.

I said "I'm done" after Spectre.

It was so, so bad. It was a mix of the stupid corniness of the Roger Moore years, but with this gray, glacial boring "serious" tone. Trying to be all "serious' while they run campy Roger Moore "action" sequences.

And blofeld being Bond's brother? THAT WAS A JOKE THAT AUSTIN POWERS DID. And you're doing it for real?

And trying to be serious about it?

Add in all the #Woke bullshit in the endless publicity campaign for this movie.

Nah, son.

I'm out.

digg this
posted by Ace at 03:49 PM

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