MGM Bankruptcy Left People with the Painful Lesson Learned
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Walking near Los Angeles, Beverly Hills street sign, MGM headquarters building glass curtain wall is still dazzling in the sunshine, it seems to remind people not forget this old film company to its former glory. However, a month ago, due to their inability to repay up to 50 billion in debt and interest, MGM has had to file for bankruptcy protection. This is the first Hollywood lion, wearing a halo of half a century of glory, With Yingxiongmolu endless regret, crashing to the ground.
MGM is one of Hollywood's top five films, and its success is a legend. In 1924, the acquisition of U.S. cinema giant Makusiluo Mitt Pictures, Goldwyn Mayer studios and production companies, the formation of MGM. Spring 85 degrees, "Waterloo Bridge", "Gone with the Wind," "The Wizard of Oz," "The Philadelphia Story" and let the world wonder of a masterpiece Department have come out, how many of Hollywood added to the dream, repeated glory .
MGM logo is a named "Leo" the lion. Disdain for the mountains like a lion, MGM has revealed the birth of glory and a despot. In 1925, MGM filmed epic invested heavily in "Bin Xu", making it become one of Hollywood's biggest studios. Since then, MGM has dominated the top spot in Hollywood for 30 years, not only its Garbo, Joan Crawford, Clark Gable, film star bright, the "big investment + big star" Film production has become the "Hollywood," the classic model. Unmatched in Hollywood for decades, MGM has written a miracle of enduring screen - "007" series, created the image of a classic cartoon - Tom and Jerry, initiated the establishment of Motion Picture Arts and Sciences, and introduced the prestigious Academy Awards ... ...
World War II, the face of television's impact, lion "Leo" rose to the challenge. In 1959, MGM released a cost of $ 15,000,000 new version of "Bin Xu", swept 11 Oscars, so far only "Titanic" and "Lord of the Rings 3" can hold a candle.
However, in the increasingly fierce market competition, the "big investment" has undoubtedly increased the MGM business risk factor, if attendance is not new, the initial investment would be difficult to recover. In the new version of "Bin Xu" glory after 10 years, MGM's film production continues to decline, our budget deficits.
From the 70s of last century, MGM changed hands several times, but still stubbornly adhere to the "large" production mode. The new century, too dependent on the weight of this first strategy of a large lion increasingly hard to breathe. In 2001, the blockbuster "Hannibal" and "Legally Blonde" has earned over 400 million U.S. dollars in ticket sales, but a considerable number of other films can not change the bleak picture.
In 2002, the acquisition of MGM by Sony Corporation of Japan is still heavily in debt, faltering along. Companies have tried to use "007" series of films shot right to re-rivers and mountains, can not raise funds because filming plans on hold again. In recent years, MGM around to look for funding, but the international financial crisis has made investors cover their wallets more tightly, lack of funds, more difficult to shoot box office blockbuster. MGM's market share plummeted.
The first half of this year, billionaire investor Carl Icahn and the famous enterprises had purchased 20% of MGM's debt, and committed to promoting the company and its holding company merger Lions Gate Films, but ultimately unsuccessful, MGM forced into bankruptcy reorganization of the road.
As also large, also lost a large, perhaps decades, the success of MGM honor the best summary. In fact, both operating companies, or planning of life, past experience is valuable, but good at understand the situation changes, the times and to adjust the mode of development, I am afraid the only way is invincible. Such a simple truth, I am afraid that MGM may not understand, but the entanglement of the interests, habits of thinking and a series of practical factors involved, often to specific actions to become falter. MGM's painful lessons, it is deep thinking of.
Learn from their mistakes. MGM after the reorganization is not a card is not left, its huge video library and the copyright still has a very high value projects, maybe in the future will play an unexpected role, help Lion "Leo" comeback for the love of movies bring new surprises. |
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I'm Jerri Lily from , which offers quality products such as Turbo Cartridge Manufacturer, Jet engine parts, and many more.
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By :
Jessie Stone
Submitted
2010-12-18 16:28:25 |
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