Tuesday, September 23rd, 2008
MGM Drops Porno Distribution
We received a new poster for Zach and Miri Make A Porno. After the poster was changed to be made clean for the puritanical USA theater audience, we weren’t expecting the next poster to have many changes, besides maybe a date.
Well, there is a date change, but it looks like something else has changed too: MGM is NOT distributing the flick anymore, something that has been confirmed by our contacts.
Which has now sent us into a news-gathering flurry!
The last we heard of turmoil at MGM was during August, when it looked like MGM was fishing for offers to be bought. Rumor has it they were low-balled and the company’s owners wouldn’t take a loss, but the whole thing was denied by the studio.
Now, everything has gone to shit on Wall Street.
What we know about MGM as of now is this: They have a deal to distribute Weinsein films, they are an MPAA signatory (which explains specific problems the Kevin Smith film has already had) and they are owned by the following entities:
Providence Equity Partners (29%)
TPG Capital, L.P. (21%)
Sony (20%)
Comcast (20%)
DLJ Merchant Banking Partners (7%)
Quadrangle Group (3%)
Besides wondering why the Quadrangle Group didn’t just call themselves the Rectangle Group, we’re reading up on how these companies have survived last week’s economic roller-coaster ride.
If we up-root something, we’ll let you know.
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