Stargate and MGM's Financial Woes

[wraithfodder]

Relevant Stargate portion from MGM article on financial woes...

From Deadline Hollywood blog:

Everyone knows that Mary Parent has been holding the studio together with the equivalent of chicken wire: specifically by partnering with studios left and right because they are willing to front the costs of each production. She also has been making some of the slate with the money from UA's deal with Merrill Lynch. Whether this convinces auditors that MGM is really in the movie biz, plus what is supposedly happening on the TV side (Stargate, BBC mini-series, etc) remains to be seen. If not, then MGM could be declared technically insolvent. And all hell breaks loose.

................

You need to read the full blog entry, but if MGM goes under, I'd hate to see the Stargate franchise go down with it. Well, at least they're not in the automotive business...

Comments

[cimmerdeux.livejournal.com]

Well, that explains a lot. I wonder if the SG franchise will get sold off. This makes it even more insane that they're doing a new series now. I know they said cost was a factor in SGA's demise but I find it hard to believe that S6 would have cost more than a whole new production. Seems to me it would have been smarter to finish out S6 and not greenlight any other productions. No wonder the movies SG1 and SGA are sitting and waiting for financing.

Wraithfodder, you should post his on the SciFi forum even though it isn't a direct relation.

Thanks for the news.

[the-scary-kitty.livejournal.com]

I have to agree. Even with the additional perks for the actors that Flanigan spoke of, surely S6 would've cost less than a new series.

I just can't see this ending well for Stargate.

[yaboiksar.livejournal.com]

Actually if they were in the automotive business we'd get more Stargate. Bailout money and all.

I'd much rather see my taxes go to that without my permission than some failing car companies that should have died years ago.

[vecturist.livejournal.com]

I think the reason SGU was approved and SGA was not renewed was because it would look 'better' from a financial standpoint to be producing a new show. If MGM did go bankrupt, I'm guessing they could sell the Stargate franchise (hmm... if I win Saturday's powerball).

[wraithfodder.livejournal.com]

The thing is, it may not affect SGU, but it may affect SG1/SGA movies.

[wraithfodder.livejournal.com]

I can't see SGU costing that much less the way they've been hiring actors on it (Carlyle, Phillips). Yeah, a new show is shinier, alas.

[the-scary-kitty.livejournal.com]

Oh, it's definitely affecting the SG-1 and SGA movies, no doubt about that. I think it could potentially affect SGU if it gets renewed... of course, I'm not going to hold my breath to see if that happens. *winks*

[cimmerdeux.livejournal.com]

It'll effect SGU in the expectation's department. I don't know how much time it was going to get to gather its own audience but if there's money trouble I suspect that time has now been shortened to one season and a target number for the audience. Syfy isn't going to want to put money into the show and if MGM's deep pockets aren't backing it up and giving it time to find its legs.....

There's gonna be a lot of annoyed people if they don't start that SGA movie soon, not to mention the SG1 movie and even if BW and RC and MGM don't realize it, I'll bet Syfy does.

I still don't understand why they don't release their movies and shows for immediate, chargeable worldwide download like iTunes or something. SGA and SG1 were and are popular all over make some cash; stop spending 4 mil an episode on special effects and use to money to hire good writers so that the actors that are already popular have something to work with. These big guys really have to start thinking globally.

[katikat.livejournal.com]

I don't get one thing - if they are in such a bad financial situation, why did they start filming the most expensive SG series yet? Why didn't they film movies for a year or two - those always brought them money in DVDs - and then, when the situation stabilized, went for SG:U?

[katikat.livejournal.com]

I think that it will affect SGU, it probably already did - didn't they plan to release the show in summer first, then it was pushed back to autumn? I mean, their sets were already standing - as Brad Wright bragged about it - and the actors were hired, scripts written (SGA started filming while they were still building their sets) so money is the only reason I can see for this move.

[wraithfodder.livejournal.com]

I've given up trying to fathom how businesses work because if they did things right, they wouldn't be so far in debt...

[wraithfodder.livejournal.com]

The SGU stuff probably came about way before anybody realized the economy, etc. would tank the way it did. It's a gamble, definitely. I should get back over to the Scifi board. Just tired of always typing my password several times to make it work!