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Robocop, the forthcoming Darren Aronofsky-helmed reboot, has apparently been taken offline permanently having been crippled by MGM's fiscal fiasco.
According a report by The Financial Times, The Wrestler director has walked away from the Robocop reboot due to the ongoing uncertainty surrounding the future of MGM, which is reportedly on the brink of bankruptcy.
Crippled with $3.7 billion in debt and struggling to make interest repayments, MGM has recently had to shelve the development of Bond 23 and the two-part Lord of the Rings prequel The Hobbit, with Robocop the latest victim of the ongoing financial saga.
As MGM lacks the money to produce films and is too heavily loaded with debt to tempt potential investors, this is unlikely to be the last high-profile project to get the chop.
source
Looks like MGM is going down the tubes.
According a report by The Financial Times, The Wrestler director has walked away from the Robocop reboot due to the ongoing uncertainty surrounding the future of MGM, which is reportedly on the brink of bankruptcy.
Crippled with $3.7 billion in debt and struggling to make interest repayments, MGM has recently had to shelve the development of Bond 23 and the two-part Lord of the Rings prequel The Hobbit, with Robocop the latest victim of the ongoing financial saga.
As MGM lacks the money to produce films and is too heavily loaded with debt to tempt potential investors, this is unlikely to be the last high-profile project to get the chop.
source
Looks like MGM is going down the tubes.