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Stargate News
MGM reboot complete, financing secured for new productions

Friday - December 24, 2010
Category: GENERAL

MGM Lion Logo

Here’s a little good news for Stargate fans reeling from the cancellation of Stargate Universe just before Christmas (story).  After collapsing under the weight of $5 billion and going into bankruptcy court this month, legendary film studio Metro-Goldwyn-Mayer is declaring a Do-Over.

The studio that owns the Stargate television franchise announced Monday that its plan for restructuring the company has become effective.  More important for the future of Stargate is that MGM has secured financing of $500 million through JP Morgan, for use in funding its operations and restarting active production of a new slate of film and television projects.

“MGM is emerging from one of the most challenging periods of its storied history,” Gary Barber and Roger Birnbaum, new Co-Chairmen and Chief Executive Officers of MGM, said in a press release. “We are honored and inspired at the opportunity of leading one of Hollywood’s most iconic studios into its next generation of unforgettable filmmaking, global television production and distribution, and aggressively pursuing, developing and exploiting new digital entertainment platforms.

“Beginning today, MGM is a stronger, more competitive company, with a solid financial foundation and a bright future.  We look forward to working with MGM’s dedicated employees to build upon this company’s legacy.”

The studio traded its debt to creditors for ownership of most of the restructured company.

MGM has also named eight of the nine positions on its new Board of Directors, which includes Barber and Birnbaum.  Former Pixar CFO Ann Mather has been tapped as the Board’s head (via

One final glimmer of bright, brilliant news for Stargate fans: If MGM’s list of current executives on its Web site is up to date (it does include Barber and Birnbaum, who only officially joined with the restructure), then Charles Cohen is still at the company.  Cohen (MGM’s Senior Executive Vice President and Chief Operating Officer) is a self-proclaimed Stargate fan who has been with the studio since 1986, and has been hugely instrumental in the franchise’s success so far.

Keep your browser locked on GateWorld as we head into 2011 for more news on the future of Stargate!  We hope to hear some good news early in the new year about Stargate‘s piece of that new production money.

Darren created GateWorld in 1999, and today is the owner and managing editor. He lives in the Seattle area with his wife and three children. (More)

COMMENTS (47):Rules | Report Comment | Trackback

  • Here’s hoping this really means some good news for the movies and the much promised SGA follow-up. After all, Sheppard did promise Ronon he would get him home!!

  • Keeping my fingers crossed for the SGA movie, or even better yet – a mini series!!!

  • Yes, light at the end of the tunnel! I hope this does mean good things for SGU & the franchise!

  • Here’s hoping that MGM’s rebooting brings good things for the continuation of the Stargate franchise!

  • I highly doubt there will be an SGA movie or miniseries. Why? It’s simple, most props/sets have either been destroyed or sold (Atlantis gate in pieces I think). Don’t forget that the SGC set was dismantled and bits were re-used for Icarus base.

    Not to mention the fact that most if not all SGA actors are “busy” filming other shows/films. SGA had it’s time. Just as SG1. And with the poor writing during the second half of season 5 I highly doubt a movie would be worth watching. Perhaps they will find a piece of technology in pegasus that will make the wraith believe they are pixies… ala Ark of truth.. -_-

  • This is good news. As far as the props having been sold, They can be remade for a mini-series for sga and then re-commissioned for something else. Besides, even though the actors are busy doing something else, I think they would jump on board for a short time to do it.

  • I would love to see the 2 promised movies made. However, I’m not very confident they will be made. As regards the Atlantis movie I don’t thinks it’s believable that Home World Command would let Atlantis leave Earth or the Milky Way Galaxy at least. Especially seen as the Drone chair was destroyed.

    I would love to see an SGU mini series, just to finish out the story.

  • Gary Barber and Roger Birnbaum, new Co-Chairmen and Chief Executive Officers of MGM, said in a press release. “We are honored and inspired at the opportunity of leading one of Hollywood’s most iconic studios into its next generation of unforgettable filmmaking, global television production…”

    Great news for the Stargate franchise & all
    of the Stargate fans.
    I remember in a interview Brad Wright saying
    that the Stargate Franchise is the second most
    important/profitable franchise for MGM ; James Bond being the first one.
    So, if Gary Barber and Roger Birnbaum are serious & honest that means the Stargate franchise is going to go on in a very strong way.

    P.S. Thanks Darren for posting this news just in time for Christmas & giving Stargate fans hope.
    Merry Christmas to you & to all Stargate fans =)

  • “and aggressively pursuing, developing and exploiting new digital entertainment platforms.”

    Very interesting.

  • I think that maybe they will focuse theyr atention on SGU since its the latest show and the actors are still available and the sets are still up and operational. Maybe MGM will look for a new channel to air SGU who knows or a movie will be planned to end the series. Thats my guess, a SGA movie would be nice maybe after SGU is wrapt up.

  • I’m already the proud owner of a Season 1 Blu-ray set and am committed to purchasing Season 2 as soon as it comes out. I hope more of you will do the same. I only wish SGA was on Blu-ray so I could support the franchise further, but I can’t bring myself to buying a lowly DVD. Cheers and Merry Christmas to all!

  • Gary Barber and Roger Birnbaum, new Co-Chairmen and Chief Executive Officers of MGM quote – “and aggressively pursuing, developing and exploiting new digital entertainment platforms.”

    Yes, i think that is a good idea.
    Some people are still hoping that SYFY will fight for SG-Universe(Since they already helped launching it, they might as well fight for it)& others have their own suggestions
    about what could be done to save SG-Universe.

    redleade quote “SGU should go directly to ITunes or digital media distribution and skip the middle man.”

    gilbak quote “Is it not possible for other networks possibly from another country to fund SGU ?”

    dtguitar quote “since MGM owns the Stargate franchise, isn’t it possible that it could lease it to another network that might be interested in picking up the show?”

    knowles2 quote “I think MGM should use SGU and the Stargate franchise to explore new ways to sell there content directly to the audience, it’s the way the industry is moving, in the UK several productions firms are already moving ahead with developing their own distribution channels on new platforms such as Google TV or Youview, basically they are apps that live on these platforms but act as channels. The British Film council an Kudos Productions are both working on such project.”

    AnthonyBJr quote “should try the farscape approach to get a way to finish off the series. It’s the only way to go.”

    Cay quote “NBC owns SGU, right?
    Run it on NBC, if they start soon, they can run it for the next 15 weeks, then air season 2.5. It will cost them nothing. At that point, they will know if there’s any new fans or not.”

    P.S. If anyone have any other suggestions, feel free to post them…

  • Great news! Here’s hoping for the SG-1 and the Stargate Atlantis movies!

  • sg1 and atlantis movies!! THIS is what a big chunk of fans are waiting for!!

    now that mgm has some money to spend, how about the sg1-atlantis movies getting first choice? the fans have been waiting for these movies!!

    *keeps fingers crossed*

  • Ideal situation? Season 3 conclusion to SGU, SG-1 and Atlantis movies (or miniseries) and a fourth series in development! Maybe a good video game made by a KNOWN developer like Bioware (they’re kinda busy now but you get my drift).

  • I should also add to that ideal situation: SGU season 2.5 airs in January instead of March/April…

  • @kvasirdor
    All they’d need to do is rebuild the sets/props. Thats what they did for Firefly/Serenity. As for the little snib at Ark of Truth, there is a big deffrence; SG-1 had very little time to finish off a storyline that really needed at least another season to properly come to a conclustion, where as Atlantis has had a few years and lets face it, the Wraith aren’t really that big of a threat to Earth (unlike the Ori) anymore.

  • Please please make the movies!!!!!
    Sorry to all fans of SGU, but I personally really want them to spend money on those movies… Fingers crossed…

  • Well i hope they start SGU again so much more can be done easy get another 5 seasons out of it to make 10 seasons like SG1 maybe 1 more season of that if not the flims sound good to!

  • I would rather something to finish off any cliffhangers for SGU and maybe the story.

  • How about just starting a new series in the SG-1 format. Just push it in xx years ahead. Or something. As it was the SG-1 series that really built the franchise. Sure SG-1 has played out its characters so i don´t mean with the same peoople but just something it that way. But as im writing this the stories maybe where pretty much used up in SG-1. SGA was excellent too. SGU i would say is abit boring to the another series tbh. More action and more world travelling like in SG-1 in a new story/team. But it must be characters like in SG-1/SGA that really stand out. I think in SGU the chars really didn´t feel like they stood out. I mean SG-1 Jack> SGA Sheppard but here is were it went wrong i would say there aren´t really a char like SG-1 Jack or SGA sheppard in SGU or any another of the SG1/SGA chars that really stood out for the rest of the chars. SGU is just aah not my cup of tea tbh. But still its Stargate so its a must watch =). Anyways put the money on a SG-1/SGA movie. And a new series in the franschies.

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