News Archive for the tag 'mgm studios'

Jan 09 2011

Stargate Universe New Fan Campaign!

Published by under News

‘Share the SGU love’ is one of the latest campaigns launched by the Stargate Universe fan base.  The plan is to send valentine’s day cards to the executives at MGM studios and the producers of the show at Bridge Studios.  The effect will be to hopefully show MGM that there is a huge fan base from around the world that would like to see the Stargate franchise continue.  Maybe a new network to show a 3rd season of SGU. 

Read the full article from the campaign leader here.  You can even print out a postcard!

 

Nov 13 2010

Stargate Worlds Studio Looses Licence

Published by under Games

Stargate Worlds” was announced as an upcoming MMO from Cheyenne Mountain Entertainment back in 2006, thanks to a deal with MGM Studios. Despite winning a court fight over SG assets, however, CME has lost their license to develop anymore SG games. They managed to rush out “Stargate Resistance,” but “Worlds” doesn’t look like it’s going to be quite as fortunate.

 

MGM has terminated the license they granted to CME in 2006, according to an East Valley Tribune report. The development comes as a blow amid many other struggles for the Arizona-based company, who just won a court ruling agreeing that they could reclaim SG assets for both “Worlds” and “Resistance.” The ruling came in response to a fraud complaint CME investors filed against Dark Comet Games and Fresh Start Studios, which were formed by ex-CME employees to continue developing their SG projects. All of this has occurred under the shadow of CME’s own bankruptcy procedures.

MGM issued a notice of termination on November 3, Cheyenne Mountain chairman and CEO Gary Whiting told the EVT. They’ve famously had there own bankruptcy troubles to deal with, which have impacted both the development of Peter Jackson’s “Hobbit” movie and the James Bond franchise.

Aug 22 2010

MGM Still Battling For Survival One Year Later

Published by under News

It’s been more than a year since the once might MGM studios Inc announced it had debt problems. So far no-one has come forward to rescue this once mighty media empire especially considering a large $400 million bill comes due next moth, and there seems little hope that it will be paid without yet another delay.

That has led trade publication The Hollywood Reporter to speculate that at least one of the film studio’s 100 or so lenders could force it into bankruptcy.

If that happens, there’s no telling what could happen to some of MGM’s Bond key properties, and not just James Bond and “The Hobbit” — but also its Stargate properties like Syfy’s “Stargate: Universe.”

“It’s kind of become a joke,” one unnamed executive told The Hollywood Reporter, who is considering some sort of partnership with MGM. “There is a real fatigue among the lenders after all” the delays — six in all — to pay down $250 million from a revolving loan that is due, along with $200 million in related interested payments.

If another delay isn’t granted, or if any of the lenders get fed up with what’s happening, any of them can file an involuntary bankruptcy petition with the courts to put the fate of MGM in a judge’s hands. Typically, involuntary bankruptcies are hard to push through. But considering the amount of money and the number of lenders involved in the current MGM debacle, it might be easier than anticipated.

But there is a lot of question marks surrounding what would happen to MGM’s assets if a judge were in charge of restructuring. Typically, the best way to pay off debt is through liquidation, meaning the studio’s prized assets like James and Stargate would be auctioned off, or sold through deals with lenders.

Any such restructuring and sale of assets would almost mean certain death for MGM which was founded in 1924, and mean a messy situation would turn into a disaster with key properties like James Bond, “The Hobbit” and Stargate, suffering significantly.

May 14 2010

Dark Comet Games Aquires Stargate Resistance

As of March, 2010 Dark Comet Games, LLC entered into an agreement with Firesky, LLC for the maintenance, operation and development of Stargate Resistanceâ„¢. Dark Comet Games, LLC is a newly formed company comprised of the original developers of Stargate Resistanceâ„¢, and has been able to continue development and expansion of this project without delay, and will release a new map with two game play styles, new character models, weapons, achievements and features in the coming weeks.

Dark Comet Games, LLC is also proceeding forward marketing Stargate Resistanceâ„¢, with a new television and web ad campaign beginning April 30, 2010.

Stargate Resistanceâ„¢ is a an MGM Studios licensed product, under license to Firesky, LLC. Firesky remains committed to the product, and is excited to partner with Dark Comet Games, LLC for the development and expansion of the game.

Apr 30 2010

MGM Finanical Woes A Possible Threat To Stargate Universe

Published by under News

It appears James Bond might not be the only franchise hurting in light of MGM Studios’ recent financial woes. According to Airlock Alpha, who spoke to an unnamed source, the cast and crew of Stargate: Universe know that their number could be up next. Though in Vancouver for the Syfy Channel, Stargate: Universe is still an MGM production.

Said the source, who works on the show, “We come in, do the best job we can, but in the end, we could be out of work tomorrow simply because of something that’s totally out of our control.”

But just because the producers decided to ditch plans for a third Bond film in the wake of MGM’s failure to find a buyer to take over the studio’s debt, doesn’t mean that Stargate: Universe is necessarily facing the same demise. Though MGM faces the daunting debt of $3.7 billion, the fact that the show is already on its second season and is part of a successful TV franchise, spells a faster return on investment than putting millions upon millions into the next Bond film might.

Feb 26 2010

MGM Stands On The Brink Of Bankruptcy

Published by under News

Financial strife has been rife in the realm of the Stargate franchise, not only has Cheyenne Mountain Entertainment filed for chapter 11 bankruptcy protection it looks like MGM studios will soon be following their path.

MGM have been looking to restructure their $3.7 billion debt levels for some time, however the struggle hasn’t abated it looks increasingly likely the firm will file for chapter 11 bankruptcy protection in the coming weeks if a potential buyer is not found.

The Hollywood reporter is quoted

With MGM debt recently trading at 60 cents on the dollar that would mean the studio would have to sell for more than $2.2 billion to fully pay off lenders. But almost nobody sees the Lion fetching that sort of money…

If a top bid for MGM fails to find enough support among its more than 140 lenders, the only other option would be a debt restructuring. That probably would include a pre-packaged bankruptcy reorganization by which lenders would morph into owners and present owners would see their stakes heavily diluted.

What does this for the future of the Stargate Franchise? Currently production costs are shared between MGM and SyFy, so any potential buyer of MGM may decide to axe Stargate Universe after its second season depending on how DVD sales play out.

Of course the studio may decide to cancel production on Stargate Universe Season two before it even begins, especially when considering the recent Blu-Ray 1.0 release failed to make the top 100 list over at Amazon.

Stay tuned for further information as and when it breaks.

Dec 16 2009

MGM Confirms Universe Return Date In The United States of America

Published by under News

MGM Studios have confirmed that Stargate Universe will return on Friday 2nd April 2010 in the United States of America, however fans around the world are due to watch the second half of season one before their American counterparts.

In the United Kingdom Stargate Universe is due to return to viewers screens in January, with unconfirmed dates for Canada’s ‘Space channel’.

As previously reported Stargate Universe has been renewed for a second season, and filming and production is due to begin in March 2010.

Keep checking back to the Stargate Archive for all the latest news as and when it breaks.

Dec 14 2009

Stargate Universe Renewed For A Second Season

Published by under News

The SyFy channel and MGM studios have expanded their commitments to the Stargate Franchise by renewing Universe for a second season.

The shows writing department have already begun spinning possible new episode titles and complete episode line-ups prior to the show being given the green light for production on 20 new episodes.

The second season of Stargate Universe is scheduled to air in the fall, with filming commencing around February / March time.

Stay tuned to the Stargate Archive for all the latest news as and when it breaks.

Jul 08 2009

MGM's New Stargate website Revealed!

Published by under News

You may have noticed that the Official MGM Stargate website was closed for a while.  Well the wait is over, today they revealed a new-look site that focuses on Stargate Universe.  It includes a virtual tour of the ‘Destiny’, high resoloution photo galleries, character bio’s, episode guides, wallpapers and much more… Also, residents in the US can watch episodes of SG-1 for free.

Click here to explore the new site!

May 15 2009

Development Studio MGM In Financial Difficulty

Published by under News

The state of the world economic climate keeps claiming more and more victims as the weeks and months tick by, MGM Studios appears to be one of the latest victims in these uncertain times.

It has been reported that the firm is struggling for survival under a $3.7 billion mountain of debt which is due to be repaid in 2012.

Here is the official statement from an MGM spokesperson

MAY 14, 2009 – Metro-Goldwyn-Mayer Inc. is discussing its financial results in a call with its lenders today. The company is reporting that its cash flow for the fiscal year ended March 31 was in line with its budget and that the company is in compliance with all loan covenants. On the call, MGM also will say it is exploring options for optimizing its capital structure and has begun talks with a steering committee of its lenders as part of the process. The company has hired Moelis & Co. as financial advisor to help it in these efforts. The company is committed to its business plan, which calls for it to remain independent, continue its motion picture production and television activities and leverage the value of its film library.

You can read the entire article which provides a deeper more in depth analysis here.