Whoever told you that some people make movies not to make money was lying. Sure there may be some other fringe benefits like having a story told or just doing it for the sake of art, but the bottom line is money.
The reason why? Because eventually money is going to catch up with you. Ironicly the motto of the Metro Goldwyn Mayer Studio (known to you folks as MGM Studio) Is Ars Gratia Artis… which means “Art for Art’s Sake”
And that studio will likely be auctioned off bit by bit in the near future because they just can’t pay the bills anymore.
Several sources say they expect that MGM will essentially be auctioned off within the next few weeks. This would mean that a major, such as Time Warner, could buy the MGM-UA library while another entity might acquire the logo, and yet another deal could be made for United Artists.
This would also mean that properties owned by the Lion would also be assumed by other studios, however current deals in place will likely run their course.
MGM hasn’t done a whole lot to try to make much money either, with only Fame coming out from the studio this year, and only three titles next year (Hot Tub Time Machine and Zookeeper alongside the remake of Red Dawn)
I wonder who would even want what’s left of this fading studio. Sure there is an impressive library of films that would come with the deal, but the rights to those films would really only have value as remakes.
As sad as it is, it might be time to put the old lion down and just let it fade with peace.
