'The Cabin in the Woods': First New Image

FINALLY, we're getting our first glimpse at the long awaiting and long delayed The Cabin in the Woods. A Joss Whedon and Drew Goddard are behind the story and Drew Goddard is directing, the film itself has been in distribution limbo ever since MGM found itself in the middle of declaring bankruptcy. We can finally rest easy and view this new image thanks to Bloody-Disgusting:

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Seth Gordon Attached to 'WarGames' Remake

This is an actual screen from NORAD

In Hollywood's neverending quest of remaking movies from the past (and the 80's apparently), MGM is developing a WarGames remake with Seth Gordon taking the helm to direct. Gordon, best known for his documentary The King of Kong, has a new film coming out soon with Horrible Bosses. 

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Peter Jackson's 'The Hobbit': Official Titles and Release Dates

It's finally here!

We've all heard the rumblings of release dates and possible titles to the adaptation of J.R.R. Tolkien's masterpiece "The Hobbit" and now we can officially confirm the news. New Line Cinema, Warner Bros. Pictures and MGM have announced Peter Jackson's two-part The Hobbit:

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Warner Brothers to Distribute 'The Hobbit'

As you're probably aware, the once powerful studio symbolized by the king of the jungle is going through some tough financial times.  MGM is coming out of bankruptcy despite having some of the most well known properties in the film industry.  Kind of makes you appreciate Lucasfilm more doesn't it?

Still, MGM has one more trick up its' sleeve in Peter Jackson's The Hobbit.  However, it seems that they only have the funds to complete half of the two-picture project which is why they sold the entire distribution rights to the most successful studio in Warner Brothers, in exchange for a loan to finance the other half of the film.  

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Summit Backs Away from Pursuit of MGM

MGM is still on the market, having put itself up for sale in November. Since then, the studio has released one film: Hot Tub Time Machine, which barely made money. So if you're roughly $4 billion in debt, that's a bad sign.

There was a great development in all of this about a month ago, which we'll revisit shortly. But first, Deadline reports that Summit, one of the few remaining film companies looking at MGM, has taken a pass. The reason: "Summit is pulling out because the process has gone on way too long and it's become a distraction for the business." Sounds reasonable.

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