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.

[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).

[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?