MGM chairman-CEO Harry Sloan is moving the studio aggressively into the tentpole business with two or three big-budget releases a year reports Variety.
Over the next few years, MGM is planning to release half a dozen films, some in the $150 million to $200 million-plus range. Studio is ready to unveil such high-profile projects as "Terminator 4"; one or two installments of "The Hobbit," which Sloan hopes will be directed by Peter Jackson; and a sequel to "The Thomas Crown Affair" with Pierce Brosnan.
The studio has already announced a "Pink Panther" sequel and the next 007 pic "Bond 22," due out in November 2008. "Rocky Balboa" unspools in February.
