Time Warner withdrew as a suitor for MGM today (Monday) after Sony sweetened its bid for the studio to nearly $5 billion over the weekend.And so the dream of seeing
The Hobbit on the big screen fades slowly, soon to die, dagnabbit. The distribution rights for that movie lie with MGM, while Warner - and New Line - holds the rights to
make the movie. Oh, what a tangled web, etc. What are the chances Sony will relinquish their newly purchased rights? Slim to none.
Of course, with MGM's extensive library of films, Sony is all set to push the Blu-ray standard for the next generation of high definition video. Which is good.