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MGM financial problems stall ROBOCOP, MATARESE CIRCLE and THREE STOOGES; may keep Jackson off THE HOBBIT

Joshua Brunsting

by: Joshua Brunsting
June 29th, 2010

It goes without saying, but MGM is in a pretty big hole at this point in time.

According to Deadline, as a part of MGM’s well publicized financial problems, a group of projects have seen their production completely halted. Production on THE THREE STOOGES, THE MATARESE CIRCLE and ROBOCOP have all completely halted, as well as the rest of the company’s rather expansive slate.

Now that is where the problems may arise.

Deadline is also reporting that one of the major points keeping Peter Jackson of the production of the upcoming HOBBIT film, is the fact that the studio is not looking to be the one on the winning side of the film’s probable box office haul. The report says that 30% of the film’s gross profits, will go to the people behind the project. However, due to MGM’s horrible financial state, this film is going to need quite a few people to put up money for it. So, therefore, the profits for those involved would be remarkably low.  Also, the film has seen a lot of recent delays, and any more will more than likely see the film lose its release date. All together, this is a deal that most likely won’t happen, but needs to happen fast.  All and all, hopes aren’t high.

While the shelving of all of these projects is quite a sad story, the true sadness here is that due to MGM’s financial woes, something Jackson himself did his best to aid (really, even after THE LORD OF THE RINGS, and the money it brought in, things couldn’t stay great?), we may not be able to see Jackson’s vision, let alone the vision of any filmmaker, in regards to THE HOBBIT.  It’s not a franchise I’m too fond of, but as a film franchise, I know that it does have its great aspects, and with a filmmaker like Jackson, has become one of the most wondrous franchises cinema has seen in a very long time.

Too bad it’s come to this, but it doesn’t look to be getting better for MGM.

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