Red Dawn On Indefinite Hold?

MGM’s financial woes may have claimed another victim – the “Red Dawn” remake according to The Los Angeles Times.

The Dan Bradley-directed $75 million remake of the 80’s John Milius cult classic focuses on a group of teenagers looking to save their town from an invasion of Chinese and Russian soldiers.

The project had been scheduled for a November 24th release this year, but with MGM’s spiralling debts the company has withdrawn the project from release as it simply doesn’t have the funds to market and distribute films of this size.

When Disney dropped the Miramax label a few months ago, several completed (or near completed) projects became essentially stuck in limbo and still may not see the light of day. Now it seems through quite difference circumstances, the same thing will happen with MGM’s more anaemic upcoming slate.

Two high-profile projects in development (Bond 23, The Hobbit) are currently both stuck in neutral until the issues are resolved, while this ‘Dawn’ delay puts a big question mark on the January 2011 release MGM has planned for Joss Whedon and Drew Goddard’s “Cabin in the Woods”.

Sony picked up the Kevin James comedy “The Zookeeper” from the studio and will release that, a similar arrangement could be worked out for ‘Dawn’ but right now there’s apparently nothing in the works on that front.

Weird bit of trivia for you – two of Miramax’s on-hold projects (Last Night, The Debt) star rising Aussie hunk Sam Worthington, while MGM’s on-hold ‘Dawn’ and ‘likely to be’ on-hold ‘Cabin’ both star rising Aussie hunk Chris Hemsworth. These kinds of issues suck not just for them but everyone involved.