From: ficus.cs.ucla.edu!reiher@overmind.mind.org
Newsgroups: rec.arts.movies
Subject: Re: MGM (was: Myths or Movies? (Evil Dead 3, X-MEN))
Date: 23 Jul 92 04:59:00 GMT
Organization: UCLA Computer Science Department
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In article <1992Jul22.172945.23883@ichips.intel.com> jreece@sousa.intel.com 
writes:
> reiher@ficus.cs.ucla.edu (Peter Reiher) writes:
>
>> There are only three studios in serious trouble - MGM/UA, Orion, and
>> Carolco.  Of these, only MGM/UA is a major, long time player, and they
>> are sort of in the least trouble of the three, as best as I can tell. 
>
>MGM is really just a letterhead and a post office box, these days.

Not true.  MGM has started 6 films this year, with 5 of them still in
production.  ("Body of Evidence", starring Madonna, Willem Dafoe, Joe
Mantegna, Anne Archer, Jurgen Prochnow, and Julianne Moore; "Meteor Man",
directed by Robert Townsend, starring Townsend, James Earl Jones, Robert
Guillaume, and lots of cameos; "Benny & Joon", starring Johnny Depp, Aidan
Quinn, and Mary Stuart Masterson; "Son of the Pink Panther", directed by
Blake Edwards and starring Robert Benigni, as Inspector Clouseau's son;
and "Cloak and Diaper", directed by Herbert Ross and starring Kathleen
Turner and Dennis Quaid.)  That's more than Columbia, Paramount, TriStar,
or Universal, and one less than Fox.  Only Buena Vista (Disney + Touchstone +
Hollywood) and Warner Bros. have started significantly more films this year.
(By contrast, Orion has not started shooting anything this year.  They still
have ten completed films that they haven't been able to raise the cash to
release, however.  Carolco has two films shooting - "Charlie" and a Sylvester
Stallone film about mountain climbing whose title I forget.)  MGM has fairly
big name directors and stars doing films for them, though they are lacking
the potential blockbuster in their release schedule that all studios crave
so much.

Of course, MGM doesn't have a real studio lot any more, but neither do 
several
other of the majors.  They've also had their other best assets sold off,
particularly the MGM film library from pre-1983 or so.  They still have
the films they've made since then, plus almost all of UA's films, though,
so they're not totally bereft of a library.  They also have a ton of debt
and several pending lawsuits.  On the other hand, they also have Alan Ladd,
Jr., one of the industries most respected executives, running production.
They might make it, particularly if one or two of the films they're making
this year becomes a hit.  Moreover, the MGM logo is a highly respected
trademark, in the field.  In a pinch, someone like Disney would probably
snap it up and continue making films under the logo, much as MGM snapped
up UA.

Orion, it seems, has almost negotiated a settlement to its problems.
The plan is for Orion to stop making films and merely serve as a releasing
agent.

Carolco has its nose barely above bankruptcy water.  If they go into 
bankruptcy, unlike Orion they are highly unlikely to emerge, even in
a reduced form.  They lack Orion's assets, especially a large film library
and a backlog of releasable films.  Also, of the three, their reputation
is worth the least, being the youngest of the companies.


--
  Peter Reiher
  reiher@ashby.cs.ucla.edu