'Poltergeist' Remake in Peril, MGM to Be Auctioned Off?

Ah man! After just learning that they were going to remake Poltergeist...

Bloody-Disgusting.com- Unreal, we're in the Twilight Zone, right?

While this news doesn't come as much of a surprise, especially considering the release date removal of the Poltergeist remake, the extreme date bump to Cabin in the Woods (now January 2011), and the fact that barely any movies have really gone into production (Amityville Horror, Motel where are you?), it was announced today that MGM will essentially be auctioned off within the next few weeks.

What does this mean for all of their titles? Only time will tell. What I will say is that I'd do anything for Lionsgate to get their classic horror library so we can get QUALITY Blu-ray releases (it's a fact that most of MGM's Blu-rays are all up-converted garbage).

From Variety:

MGM may be the best known logo in the entertainment business, but the company seems headed for another possible garage sale.

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. Sources speculated that Kirk Kerkorian, who has already bought and sold MGM twice, might buy the logo once again.

Last summer Harry Sloan was bounced as MGM's CEO and Stephen Cooper, a specialist in restructuring companies (Krispy Kreme was one of his projects) started meeting with bankers with the aim of restructuring some $3.7 billion in debt. There was speculation that the combined assets of MGM may now yield as little as $1.5 billion in the present market.

The various equity owners of MGM, including several private equity firms, have already written down their $5 billion acquisition, which closed in 2004.

MGM's library contains 4.000 titles, but some specialists in film libraries consider its list of titles to be geriatric.

Any sort of auction would need approval of a two-thirds majority of the bondholders, and a coupld of the bondholders insist they have not been contacted as yet. Some sources believe a pre-packaged bankruptcy is still an option, and there is still an expectation that Time-Warner might make a last eleventh hour bid.

Neither Cooper nor MGM would comment.

MGM's released only a remake of "Fame" this year. For 2010, it's opening two comedies -- "Hot Tub Time Machine" in March and "The Zookeeper" in October -- and a remake of "Red Dawn" in November.

Short Circuit!

Dimension Films is rewiring "Short Circuit," acquiring rights to remake the 1986 film.

The original introduced Number 5, a robot built by the military to be a highly sophisticated weapon. It developed a conscience and a personality after being hit by lightning, and then needed the help of humans after it was targeted for destruction by its makers, once it became a peacenik.

S.S. Wilson and Brent Maddock, who created the characters and wrote both "Short Circuit" films, have been hired to write the remake. David Foster and Ryan E. Heppe will produce with John Hyde.

Deal was made by Dimension co-chairman Bob Weinstein, who called "Short Circuit" a worthy addition to its family film slate.

Foster, who produced the original with his partner Lawrence Turman and son Gary Foster, said the film will be similar in theme to the original, but it will factor in advances in technology.

Say Hello To The New Freddy!

Jackie Earle Haley.
I know him from Little Children.


Creepy, indeed!!!

IT: THE REMAKE!!

YES!!!

Stephen King's It is coming to the big screen!!!

Warner Bros. recently bought the rights to the thriller which tracks the story of It, a transforming creature who "preys on children and whose favorite form is that of a sadistic clown called Pennywise."

The script will be adapted to current day opposed to the novel's timeline of 1958 and 1985.

It was previously turned into a TV miniseries for ABC in the late 80's starring John Ritter and Tim Curry, but no casting choices have been announced as of yet for the film version.

-------> I want to see a remake of Killer Klowns From Outer Space next!!!

The Last House On the Left

I want to seeeeeeeeeeeeeeeeeee this.

ANOTHER REMAKE: Total Recall

From Perezhilton.com:
"Seriously, can't Hollywood come up with anything new?
We just found out they're doing a remake of The Never Ending Story, and now we're learning that another classic is being remade. Yes, it's a classic!
Set to hit production almost 20 years after the original is a reworking of 1990's Total Recall, one of Arnold Schwarzenegger's best films - possibly tied with T2.
According to reports, final negotiations are taking place with Columbia Pictures to create the modern version of the movie, originally based on a story by Philip K. Dick."

Clue Remake!

From Perezhilton.com:

"Move over 1985 version!
A new movie based on the board game classic Clue is in the works.
And, Pirates of the Caribbean director, Gore Verbinski, has reportedly signed on to bring the crime caper to life again.
If Gore's signed on, maybe Johnny Depp will do it too!
We could see J in the Professor Plum role! "

The Never Ending Stream Of Remakes!

From PerezHilton.com:

Happy news for all you kiddies from the '80s.
Warner Bros and the Kennedy/Marshall Co. are in talks to make another rendition of The Never Ending Story!
The studio recently acquired the rights to the franchise, so there's a good chance of a remake coming soon.
The new flick would put a modern twist on the classic tale.

Why So Serious?

'Nightmare on Elm Street' Lives AGAIN!

Veteran music video director Samuel Bayer will be directing the upcoming reboot of A Nightmare on Elm Street.Bayer, who's worked with Green Day, Metallica and Nirvana, is on deck for the "re-imagining" of the 25-year-old horror classic from Wes Craven. According to Reuters, unlike other horror reboots which lift plot devices from other horror movies, the new Nightmare will stay true to the original formula: Krueger attacking teens in their dreams with real-world consequences.

In December, the Nightmare on Elm Street project was announced with Cape Fear scribe Wesley Strick writing the screenplay. Production is expected to take place in the 'burbs of Chicago sometime this year, with or without the gloved-one, Robert Englund. Rampant speculation suggests that Englund, who's played Freddy Krueger in all seven films including a couple TV series, is not yet attached. Rumors have suggested that Billy Bob Thornton may replace him.

Michael Bay's Platinum Dunes and New Line Cinema are behind the project and are set to release another retread, Friday the 13th, tomorrow. If estimates for the film are met, the Nightmare project will have serious momentum.
...."Bumped to prime-time, bitch!"