Hollywood moves overseas

In a stunning display of outsourcing, several Hollywood names have gone to France to make their films.

France’s 20% tax rebate for foreign productions, capped at €4 million, has sparked a filming frenzy in Paris with such major directors as Clint Eastwood, Christopher Nolan, Woody Allen and Scorsese plus U.S. studios including Paramount and Universal taking advantage of both the country’s technical savvy and the lower cost of shooting.

“Production has been more concentrated on Paris this year than other regions of France, it’s true,” said Franck Priot, deputy director of Film France, the country’s film commission. “Hollywood is coming to Paris not just to shoot in studios like in other territories but really to film Paris for Paris’ sake.”

The goal of the rebate is not only to bring foreign filmmakers to French soil but to stimulate the French economy. So far, so good. Since the law took effect Jan. 1, 2009, France’s film industry has seen an economic boost from visiting productions, and paparazzi photos of visiting stars have served as free ads for the City of Lights. As of this summer, 22 projects have received aid representing 330 days of shooting and more than €100 million in spending in the territory.

“Paris is the world capital of romantic comedies and costume dramas,” Priot said. “Now we’ve moved on to Selena Gomez and the 21st century — there’s a real rejuvenation happening.”

Of course, there’s more to France than Paris and the Eiffel Tower. The country offers some pretty amazing sites. Perhaps the real question is how do we get Hollywood back to America?

Not even Bond can get MGM out of this one

Things are going so badly with MGM’s restructuring review that a forced bankruptcy is a real possibility by Sept. 15.

Lenders don’t want to lose control of the studio’s lucrative James Bond movie rights. So one of them could still dig deeper to provide enough new equity capital to make a voluntary restructuring feasible. Or if that option fails, the Century City studio could obtain a seventh extension of its debt forbearance agreement with its 100-plus lenders.

This problem has persisted for a year.

The studio has secured six forbearance agreements, or delays of the deadline for paying principal and interest on its senior bank debt. Strapped by almost $4 billion in total corporate debt, MGM repeatedly has gotten lenders to postpone recoupment of a $250 million revolving credit facility and $200 million or so in related interest payments.

Meanwhile, if you’re hoping for any MGM movies to be released in the upcoming months, you may want to put that on hold. Like the next James Bond movie, two films based on J.R.R. Tolkien’s book The Hobbit, a planned “Three Stooges” movie and a “Robocop” remake.

So, not a total loss, then.

Disney bids farewell to Miramax

Six months after it was put on the market, Miramax Films has been sold for $660 million to Filmyard Holdings Llc., whose principals are construction executive Ronald Tutor and Colony Capital chairman Tom Barrack individually and through his company, the Walt Disney Co. announced.

The sale, which is expected to close between Sept. 10 and year’s end, includes rights to more than 700 film titles, according to the announcement, including Academy Award winners “Chicago,” “Shakespeare in Love” and “No Country for Old Men.”

There were few other details about the transaction, the financing or future plans for Filmyard, which is expected to launch a new movie company that will exploit the library and make at least some new films. Sources have estimated the library comes with outstanding receivables worth more than $150 million, which will help reduce the acquisition cost.

Sony lands Meryl Streep-Tina Fey comedy

Something epic just happened.

Sony has picked up “Mommy & Me,” the comedy package featuring Meryl Streep and Tina Fey as a mother-and-daughter duo to be directed by Stanley Tucci.

I already have great expectations for this film.

Storylines are under wraps, although it spotlights the thorny and funny sides of mother-daughter relationships.

Joby Harold wrote the treatment that went with the package and is exec producing with Tucci, Steve Buscemi and Joshua Astrachan. Wren Arthur, Lucy Barzun Donnelly and Tory Tunnell are producing.

Streep and Tucci have worked together on-screen in “Devil Wears Prada” and “Julie & Julia.” It’s unclear at this time if Tucci would appear in the movie or just stick to directing.

Not to be premature here, but does this mean that Tina Fey is working her way toward an Oscar to put on that mantle next to all those “30 Rock” Emmys?

Entertainment jobs leaving California

There are 36,100 fewer jobs in California because the state hasn’t sufficiently wooed the entertainment industry, according to a report issued Thursday.

The Milken Institute report says 10,600 entertainment jobs have fled the state since 1997 along with 25,500 jobs indirectly related to the industry.

Where are the jobs going?

Well, “Salt” was filmed in New York. Georgia got “The Blind Side” and “Zombieland.” New Mexico has “Cowboys & Aliens” and “Thor,” and Clint Eastwood took “Gran Torino” to Michigan.

The Hollywood Reporter jokes that one of the most ironic flights is “Captain America”, which is filming in London and “Battle: Los Angeles” is filming in Louisiana.

A year ago, California implemented a tax credit for projects budgeted below $75 million, and 75 TV and movie productions have been approved to receive those credits. But the report says California should do much more, including:

– Make the tax credits, scheduled to end in 2014, permanent.

– Provide the California Film Commission with enhanced staffing and marketing resources.

– Expand tax credits for TV production to include network and premium cable shows.

– Consider digital-media tax credits to retain developers of digital animation, visual effects and video games.

– Encourage investments in infrastructure by implementing tax credits for building and upgrading studio and post-production space.

Pixar goes Muppet

Since Disney acquired the Muppets, it hasn’t really done much with them. Aside from a few YouTube appearances, a gag on 30 Rock, and a possible outing as Lady Gaga’s wardrobe, Kermit and his pals have been surprisingly quiet.

On Wednesday, top Disney execs met with Pixar to discuss some reshoots in their upcoming live action film. Some of the members of the so-called “Pixar Brain Trust” — filmmakers John Lasseter, Brad Bird, Pete Docter, Andrew Stanton, Michael Arndt, Bob Peterson and president Ed Catmull — were there for the consultations.

These are the folks behind the Pixar blockbusters and, face it, every movie that Pixar has made is a blockbuster.

On the Disney side, Muppets director James Bobin and producers David Hoberman and Todd Lieberman were likely in the room along with Segel. Neither Pixar nor Disney would comment.

Back when Jim Henson made the Muppets, he was targeting an older crowd, while Sesame Street characters were good for the younger crowd.

As Pixar movies seem to be appealing more to the older crowd, it’s only natural that the minds behind Monster’s, Inc. and A Bug’s Life would be a great contribution to the Muppet franchise.

UltraViolet testing underway

A group of over 60 media companies have started testing UltraViolet. UltraViolet is a place where you can watch your entire movie collection wherever you are, as long as it is on a supported device. The devices aren’t wedded to any particular brand.

The open standard backed by movie studios including Warner Bros. and technology companies such as Microsoft Corp. represents a challenge to proprietary formats from Apple Inc. and others. Those formats lock buyers of video content to limited numbers of devices, such as the iPad or Apple TV.

Backers of the Digital Entertainment Content Ecosystem hope to kickstart growth of digital movie purchases, now just 4% of all sales, by freeing consumers of format concerns.

Ideally, UltraViolet is supposed to free up your formats. The concept is to create a digital locker that stores tokens that are proofs of purchase of DVDs, Blu-ray discs and movie downloads. When a consumer buys a movie online or at a store, he can watch it anywhere else, including on any mobile device or TV set without the hassle of copying his personal files.

UltraViolet’s website displays icons of some of the companies working with the program, including Netflix, Best Buy, and most of the major Hollywood studios.  A noticeable absence is Disney. Also, I would like to see Google on that list.

MGM’s problems persist, for 6th time

MGM has won its sixth debt extension, but money problems continue. That’s not so good for you fans of “The Hobbit” or James Bond films.

Bond films are put on hold indefinitely as the studio tries to figure out a way to make some cash. The Lion plans on remaining on film productions sidelines while issuing catalog releases for home entertainment and licensing new video games. Currently, Activision has the upcoming “GoldenEye”

Many are calling for the Bond franchise to go to the highest bidder, and some say the same about MGM’s share of “The Hobbit”. Warner Bros. holds the other half of “Hobbit”.

Century Studio debtholders have given MGM until Sept. 15 to pay up. The Lion has about $4 billion of debt.

Summit Entertainment, Spyglass, and others are circling the bleeding Lion with their own ideas on how to restructure. MGM tried to find a buyer for their studio, but Warner Bros.’s offer of $1.5 billion was considered too low.

MGM CEO hunt on pause

The hunt for the new CEO of MGM has proved more difficult than originally thought.

Jonathan Dolgen, Peter Chernin and Bill Mechanic have all said they are not interested in leading the lion.MGM is struggling under the weight of $4 billion of debt. The owners have been unable to find a buyer for the studio and have instead settled for financial and management restructuring.

One-third of the debt now is held by Highland Capital and a handful of other lenders. Lenders holding two-thirds of the studio’s debt would have to approve any prepackaged bankruptcy.

With upcoming “Red Dawn” set for release in November and the horror thriller “Cabin in the Woods” slotted for January, no trailers have been shot, and it’s assumed both will be pushed to later release dates.