Its 'Official' MGM/Spyglass Merger a Done Deal!

The MGM/Spyglass Merger went ahead as planned; which enables a shared financial load that now sees the company in a much stronger position to capitalize on its strategic planning and global business interests.

The news comes on the heels of a Movie deal brokered in New Zealand. MGM who co-holds rights with Warner Bros; were paid Millions by the New Zealand Government, to keep production of The Hobbit in New Zealand. This together with a deal that saw the New Zealand Government kow tow to Warner Bros and pass an urgent Law; virtually overnight.

This Bill was hurriedly undertaken and fast tracked into Law; to ensure the New Zealand Government honoured its promise to Warner bros, to stop all industrial actions over pay claims; taken by Actors Equity and The Council of Trade Unions. To stop any further actions that would delay any shooting of the Hobbit and/or see the movie bogged down in legal wrangling for months.

Most importantly, this Law was a deal specifically to appease Warner Bros; who due to industrial actions taken by Actors equity in New Zealand, had threatened to take the movie elsewhere and offshore, to any of several other interested countries, who had already offered huge Tax breaks and guaranteed the Movie would proceed devoid of any Union presence.

Furthermore; the MGM/Spyglass merger has thrown somewhat of a cloud of uncertainty over plans for future James Bond productions. At the time of writing these are still up in the air.
NZPA 2010