MGM is in talks with Vanguard Animation on a three-picture distribution deal, according to THE HOLLYWOOD REPORTER. If the deal goes through John Williams and Terry Botwick's animation house will deliver one film per year starting in 2008. As part of the deal, MGM would have a piece of merchandising and licensing of the properties.
The move returns MGM to the animation business right as many had written the study off as dead. However, under new chairman/ceo Harry Sloan and coo Rick Sands, the studio has inked a multipicture distribution deal with the Weinstein Co., set up 10 new MGM television channels in Eastern Europe and Asia and made a series of key hires to boost the marketing and distribution divisions.
In late 2004, MGM was purchased by a group of investors with Sony holding a 20% stake, which it purchased for $4.8 billion. Providence Equity Partners holds 29%; Texas Pacific Group, 21%; Comcast, 20%; DLJ Merchant Banking Partners, 7%, and the Quadrangle Group, 3%.
Rick DeMott
Animation World Network
Creator of Rick's Flicks Picks
