Deadline Hollywood is reporting that suits at MGM/United Artists have met with their shareholders to admit they're basically out of money, and the shareholders are considering letting the company go bankrupt, collecting their shares and calling it a day.
MGM currently holds 2 very important properties, The Hobbit and the James Bond film series, both of which have films in the pipeline that need to go into production soon.
If the studio goes belly up again they'd probably lose the rights to Bond, and production on The Hobbit plans get delayed .
No telling when or what the shareholders may decide, but you can bet that there are a few folks holding their collective breaths waiting for word... Stay Tuned...
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