One day after Mary Parent’s appointment, Hollywood wants to know where all this money is coming from to revitalize the studio. The town is starting to wonder if maybe Harry Sloan is using Parent as bait to attract big bucks. Meanwhile, ousted New Line marketing dude Russell Schwartz is coming to MGM but only to consult/help on the marketing campaign for Tom Cruise’s Nazi pic Valkyrie.
Hey, What’s With MGM’s Hiring Spree?
By NIKKI FINKE | Friday March 14, 2008 @ 10:40am PDTTags: Harry E. Sloan, Hollywood, Mary Parent, MGM, Russell Schwartz, Studios
This article was printed from http://www.deadline.com/2008/03/hey-harry-whats-with-mgms-hiring-spree/
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Title Studio Gross 1 Chronicle FOX $22.0M 2 The Woman In Black CBS $20.9M 3 The Grey OPRD $9.3M 4 Big Miracle UNI $7.8M 5 Underworld: Awake... SNY $5.5M 6 One For The Money LGF $5.2M 7 Red Tails FOX $4.7M 8 The Descendants FSL $4.6M 9 Man On A Ledge SMT $4.4M 10 Extremely Loud & WB $3.8M 11 Contraband UNI $3.4M 12 The Artist TWC $2.6M 13 Beauty And The Beast DIS $2.6M 14 Hugo PAR $2.3M 15 The Iron Lady TWC $1.9M 16 Mission: Impossible - PAR $1.7M 17 Joyful Noise WB $1.5M 18 Haywire REL $1.2M 19 Alvin And The FOX $1.0M 20 Sherlock Holmes: A WB $1.0M SOURCE: RENTRAKBox Office Poll
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I think the powers that be at MGM are looking at an ever expanding web of media outlets (theatrical, broadcast, cable, internet, home video) and an ever dwindling amount of content for these outlets.
If you don’t believe me, turn on your TV on a weekend afternoon and count how many channels (broadcast and cable) are playing the same movie that weekend. (I call it The Hunt for Red October factor)
Other media conglomerates have a strategy of consolidation, where they try to absorb or crush any and all potential competition. The problem with entertainment is that there is only so much original content a single company can produce all by itself no matter how big it is.
I suspect that the powers that be behind MGM are looking to fill that content gap with a what’s become a radical new idea: a movie company that’s dedicated to only making movies and television shows.
Time-Warner should have done it with New Line, spinning it off with outside partners, fresh management, and a deal giving T-W a percentage of ownership and first dibs when it comes to TV and international distribution rights.
You don’t need an ivy league degree to figure that out.
I just don’t see how the math adds up for Valkyrie now that Singer has gone twenty million plus over budget. Even at the peak of Tom’s power, he wasn’t drawing the required box office, for drama, that Valkyrie now requires.
Two underperformances in a row, at a time when everyone is questioning his draw, and at the start of UA, is very damaging to Tom. That’s a shame because I like him, respect him, and want him to succeed. Valkyrie is more Singer’s fault than Tom’s, but that’s not how the merciless press will play it. Singer could be the end of Tom, but he’ll get off unscathed as the press heaps failure and derision on Tom.
Actually, MI:III was a huge success. It didn’t flop like Batman Begins or worse Superman Returns.
So Lions for Lambs did fine for it’s budget. It’s no bomb like Golden Compass.
Of course, Murdoch’s trashy media will rips Tom off as usual and will even call it a failure or a flop yet it will be a hit.
“Singer could be the end of Tom”…as far as the public goes, Tom was the end of Tom…putting down treatment of post partum depression (not just Brook-Thousands of women are effected by this and were insulted by him), jumping on sofas, and videos all over the web of him…Hollywood can act like its still 1989, but it aint. Go to VA, PA, Ohio, and ask a 17-25 year old how important Tom is in them selecting a movie.