SG1/SGA - Variety: Lion back on the prowl
Thanks to Ellen for the heads up!
From Variety:
http://www.variety.com/article/VR111...splay=stargate
(Please follow the link for the complete article.)
Lion back on the prowl
MGM scales back relationship with Sony
By BEN FRITZ
A correction was made to this article on May 31, 2006.
Breaking up is hard to do, but the Lion seems increasingly eager to embark on the process.
Just a year into its dalliance with Sony, MGM will limit their relationship to a co-financing partnership on several films -- including "Casino Royale," the next James Bond pic -- and the use of Sony's Blu-ray format for high-definition DVDs.
In a sign that MGM under new CEO Harry Sloan may once again become a fully independent studio, the Lion has taken back its worldwide homevideo and television distribution rights from Sony, which has been handling them for the past year, ever since the Japanese conglomconglom led a consortium of investors to acquire MGM for $5 billion.
At the time, most observers thought Sony's $1 billion stake made sense because it could monetize MGM's 4,000-plus pic library through its global distribution chain.
But at a board meeting Tuesday, MGM's controlling partners, which also include Comcast and four private equity groups, voted to take back distribution rights, as allowed under the yearlong deal that went into effect at the time of the acquisition.
**snippity doo-dah**
In addition, MGM is establishing a worldwide television distribution division to make TV deals for its library of film and TV shows, any new skeins it produces -- including the two "Stargate" series on Sci Fi -- and new pics that it releases.
The new TV operation is expected to have around 100 employees and will be headed by MGM TV exec Jim Packer.
Date in print: Wed., May 31, 2006, Los Angeles
© 2006 Reed Business Information
|*|(*)|*|(*)|*|
Morjana
From Variety:
http://www.variety.com/article/VR111...splay=stargate
(Please follow the link for the complete article.)
Lion back on the prowl
MGM scales back relationship with Sony
By BEN FRITZ
A correction was made to this article on May 31, 2006.
Breaking up is hard to do, but the Lion seems increasingly eager to embark on the process.
Just a year into its dalliance with Sony, MGM will limit their relationship to a co-financing partnership on several films -- including "Casino Royale," the next James Bond pic -- and the use of Sony's Blu-ray format for high-definition DVDs.
In a sign that MGM under new CEO Harry Sloan may once again become a fully independent studio, the Lion has taken back its worldwide homevideo and television distribution rights from Sony, which has been handling them for the past year, ever since the Japanese conglomconglom led a consortium of investors to acquire MGM for $5 billion.
At the time, most observers thought Sony's $1 billion stake made sense because it could monetize MGM's 4,000-plus pic library through its global distribution chain.
But at a board meeting Tuesday, MGM's controlling partners, which also include Comcast and four private equity groups, voted to take back distribution rights, as allowed under the yearlong deal that went into effect at the time of the acquisition.
**snippity doo-dah**
In addition, MGM is establishing a worldwide television distribution division to make TV deals for its library of film and TV shows, any new skeins it produces -- including the two "Stargate" series on Sci Fi -- and new pics that it releases.
The new TV operation is expected to have around 100 employees and will be headed by MGM TV exec Jim Packer.
Date in print: Wed., May 31, 2006, Los Angeles
© 2006 Reed Business Information
|*|(*)|*|(*)|*|
Morjana
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