MGM sets plans for IPO - Entertainment News, Film News, Media - Variety
MGM, the fabled studio that's made some folks piles of money and cost others their shirts, is heading back to the stock market -- news that left potential investors seeking clarity on MGM strategy beyond several big films and a TV library that may be mostly spoken for.
"If they really want to get back into the ranks of the major studios, they're going to need a huge infusion of capital and a rather ambitious production and distribution plan," said Larry Ulman, a partner at Gibson Dunn who specializes in entertainment finance. Gibson Dunn worked on MGM's last IPO, which raised more than $300 million in 1997. IPO proceeds, he said, could help MGM ramp up its slate, churning out the quality and perhaps quantity of pics that could put the Lion back on top. "If you were just going to continue to release a 'Bond' film and maybe a 'Hobbit,' it wouldn't make sense to go through all of that," he said.
There are likely to be more questions than answers for a while as MGM is the first entertainment company to pursue an IPO under new legislation effective in April that allows companies with under $1 billion in revenue to keep the process confidential until 21 days before a roadshow. Part of the JOBS Act (Jumpstart Our Business Startups), the legislation reduces public scrutiny and keeps key operating stats out of the hands of competitors for much of the IPO process.
The company is said to have hired Goldman Sachs as lead underwriter.
Oh noes! The sky is falling!!! No Skyfall novelization. What has the world come to!?!?! Not that this should come as much of a surprise, the current neo-Bourne reboot has not had novelizations for either entry. The last Bond movie to have a tiein book was Die Another Day ten years ago.
There are various reason for not authorizing a tiein novel, some speculated spoilers were a possible concern, probably not since there is a Video Game coming which if it should follow the same story as the movie will be chockablock with spoilers. Also publication could be delayed to coincide with the movies release.
Another possibility is the is no there is Bond Book Author of record to write the novel, the last tie in were written by the current Bond authors, John Gardner penned License To Kill and Goldeneye, Raymond Benson penned Tomorrow Never Dies, The World is not Enough, and Die Another Day.
One theory is the hectic production scheduled and late delivery of the script prevented the possibility of a tiein, fueling this speculation is the catastrophe Quantum of Solace was. The chaotic QOS script is now the root of all evil if we are to believe the official company talking point, some believe the script was so bad and being worked on to such a late date there was no way a novel could be adapted. There could be something to this however TND also had a chaotic script to screen life and still a tiein was still managed.
Another theory is poor projected profits for a tiein, which admittedly have short shelf lifespans. This idea may have some merit, however as part of the over all decision. There will likely be a few collectors editions coffee table size behind the scenes of books coming out, expensive to produce, expensive to buy, but there is collectors market that supports them. If we consider how much the book marked has changed since Die Another Day graced bookstore shelves, e publications and such, along with a tepid sales, the cost of publication (killing all those trees), along with hiring an author, for which their is none on staff right now, then it does not make as much sense to publish a novelization as Bond fans might think.
However if you are still hankering for a Skyfall novelization, never fear, the writing brigade® in the Classic Bond Forum® are cobbling together a serviceable story® , while using the registered trademark symbol (® ) with wild abandon® . If you feel like having a good laugh stop by and give the DCinB novelization a read.
Special thanks to Napoleon Solo®
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