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MGM up for auction?

11.11.2009

Things really are tough all over, even in Hollywood.

While some some studios continue to push mad stacks at single projects ($250m for 2012, half a billion for AVATAR), other companies have been writhing and bleeding like they've been gutshot.

MGM is the latest to feel the economic sting -- while the 85-year-old studio has been troubled for some time, the word now is that its catalog and famous roaring mascot will be up for bidding in the very near future.

Time Warner is reportedly the most likely candidate, which raises the question of the Bond franchise's future home (CASINO ROYALE and QUANTUM OF SOLACE were partnered with Sony), as well as the existing slate of movies like the RED DAWN remake and the recently delayed Joss Whedon horror movie CABIN IN THE WOODS.

Extra Tidbit: The Latin phrase "Ars Gratia Artis" surrounding mascot Leo the Lion means "Art for art's sake."
Source: Variety

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