MGM recently completed its restructuring with a $500 million line of credit that will go toward developing the 23rd “James Bond” installment and back-to-back “The Hobbit” prequels.
The studio won’t emerge from Chapter 11 bankruptcy protection officially for several more months, but once it does, it will work on getting its “Red Dawn” remake into theaters. The film is one of three completed projects and will be released in 2011.
“Red Dawn” focuses on a group of teenagers looking to save their town from an invasion of Chinese and Russian soldiers. It stars Chris Hemsworth, Josh Hutcherson, Adrianne Palicki, Isabel Lucas and Jeffrey Dean Morgan.