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Which company is still standing by Labor Day: MGM or Overture Films?
It's tough times in Hollywood for two struggling mini-majors: MGM and Overture Films.
MGM is in the middle of what seems to be a never-ending auction process to sell the studio to a prospective buyer to deal with a significant amount of debt. Unfortunately, the bids have come in lower than expected making the fate of the grand lion relatively fuzzy. Waiting in the wings are potential releases "The Zookeeper" with Kevin James, a "Red Dawn" remake and the delayed "Cabin in the Woods" in 3-D. Whether a reinvigorated MGM or another studio release those films should be determined before the end of the summer.
Once Starz Media made public that it had lost patience with indie division Overture Films, the studio delivered four profitable hits in a row. Besides the highly anticipated "Let Me In," Starz has put production on hold and is exploring all its options for Overture. It would be surprising if the studio was still awaiting their fate by September.