The LA Times has reported that Spyglass Entertainment has signed a letter of intent to take over management of MGM which in recent times has suffered financial hardship, which has been at least partially responsible for high profile productions such as the next Bond sequel and the Hobbit films to be delayed.
Improving the financial situation of MGM is likely to require some significant restructuring before the studio can return to the various projects that are on-hold. With no definite time line or even formal approval for a change in management and a restructure to proceed it could be some time before we see much in the way of progress.
For fans eagerly awaiting some progress on MGM’s projects however this is good news in that there are some possible changes coming to reignite things for MGM. If nothing else it’s a small step towards seeing the Bond and Hobbit films starting production.