Sony deal to include 'Bond 24' and DVD distribution
Newly relaunched Metro-Goldwyn-Mayer is finalizing a deal for Sony Pictures to handle worldwide distribution of its movies and DVDs and for the two studios to co-finance upcoming films, according to people familiar with the situation - reports the LA Times
As part of the arrangement under discussion, Sony would fund half of MGM's next James Bond movie, which is planned for release Nov. 9, 2012, and 25% of a potential follow-up (MI6 Note: Meaning Sony would be involved in "Bond 24", perhaps in 2014).
Sony co-financed and released MGM's last two Bond movies, "Casino Royale" and "Quantum of Solace," making it a logical home for Hollywood's longest-running franchise.
Sony would also release all future films made by MGM and the studio's already completed movies "Red Dawn" and "Cabin in the Woods," as well as handle sales of its 4,000-title library on DVD and digital platforms.
Sony previously distributed MGM's DVD library after it acquired a stake in the studio when it was sold to a consortium of investors in 2005. However, a year later it lost control of the library to Fox after MGM management was disappointed by the sales of its titles, which include such classics as "Dr. Zhivago" and "Rocky."
Fox's deal to distribute the MGM library worldwide expires in September.
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