Before I started writing for Movie Buzzers I was invited to Detroit to talk about comic books at a conference (yes, I am a big deal) in October 2009 and, much to my surprise, the remake of Red Dawn was being filmed on the streets outside of my hotel. Pretty cool, huh? I made a mental note to check out the movie once it finally came out.
Turns out I will have had to wait over three years before I would get the chance to see it: the Red Dawn remake is currently set for a November 2, 2012 release.
Why the long wait? The same reason why Joss Whedon’s The Cabin in the Woods (also shot in 2009) hasn’t been released yet, James Bond hasn’t returned since 2008, and The Hobbit was delayed: MGM, one of the most iconic Hollywood studios, filed for bankruptcy, leaving those projects in suspended animation.
But in what amounts to the most remarkable Hollywood comeback since Mickey Rourke in The Wrestler, Deadline reveals that not only is MGM back in business by paying off the studio’s $325 million debt in just one year, but has enough cash left over from its $500 million credit from various banks to start making more movies.
Of course, this was a stupidly easy investment opportunity: MGM is set to co-release two of the most anticipated films of 2012, Skyfall and The Hobbit: An Unexpected Journey, both of which will undoubtedly be gigantic hits not only in the United States but worldwide. MGM also will co-distribute this year’s 21 Jump Street and G.I. Joe: Retaliation, and has several remakes of existing properties in various states of development (including Robocop, Carrie, and Poltergeist). The studio is also coming off of a strong 2011, with its co-productions Zookeeper and The Girl with the Dragon Tattoo doing solid business.
This is good news for film fans, since the more studios out there willing to make and distribute films means the more choices we’ll get at the multiplex. Hopefully MGM will also use this opportunity to sink so much money in box office bombs, which put the studio on the verge of bankruptcy in the first place.
…and at least I’ll finally get to see Red Dawn now. WOLVERINES!
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