Terminator 4 and The Hobbit in the works from MGM
In an article on Variety today, they reported that MGM will have a number of very big $150-200 Million projects that would be in development over the next few years, including Terminator 4, The Hobbit, and a sequel to The Thomas Crown Affair. This strategy, called the tentpole strategy, is one that MGM is implementing in an attempt to recover from their 40-year slump.
Over the next few years, MGM is planning to release half a dozen films, some in the $150 million to $200 million-plus range. Studio is ready to unveil such high-profile projects as “Terminator 4″; one or two installments of “The Hobbit,” which Sloan hopes will be directed by Peter Jackson; and a sequel to “The Thomas Crown Affair” with Pierce Brosnan.
It has already announced a “Pink Panther” sequel and the next 007 pic “Bond 22,” due out in November 2008. “Rocky Balboa” unspools in February.
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