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Deadline Hollywood columnist Nikki Finke reports that MGM is once again in dire straits, saddled with billions in debt and relying on revenues from its library of classics to generate income. The studio has been struggling for many years and is eager to get films in production into theaters. However, the cavalry in a long way off. The Fame remake doesn't hit theaters until September and Peter Jackson's Hobbit films and the next James Bond entry (which MGM reclaims the rights to after two pics were released by Sony) are only in early planning stages. For more click here