MGM Renews DVD Deal With Fox Through 2016

MGM/Courtesy Everett Collection
"Quantum of Solace"

UPDATED: The two sides ink a new agreement for worldwide Blu-ray and DVD distribution.

As it charts its course for the future, MGM has renewed its worldwide Blu-ray and DVD distribution pact with Twentieth Century Fox Home Entertainment through 2016.

As part of the new agreement, Fox will also oversee electronic-sell-through for MGM titles and will continue to handle MGM’s movie and television library, as well as distribute several upcoming new releases in the home entertainment market, including the next James Bond film, which will be distributed theatrically by Sony and is set for a Nov. 9, 2012 release.

MGM, which is emerging from brankruptcy under the leadership of co-chairmen Gary Barber and Roger Birnbaum, announced Wednesday that Sony will co-finance and and handle theatrical distribution on the next two Bond movies, and that the two companies are also looking to co-finance other films over the next five years.

Fox began managing MGM’s international home video distribution in 1999. The partnership expanded in 2006 when MGM signed a worldwide distribution pact with Fox, which included domestic distrubtion.

Fox’s home entertainment group has successful exploited such MGM titles as the Bond and Rocky franchises. It has also selected never-before-released films and TV shows from the MGM catalog for CreateSpace’s DVD On-Demand service.

“The MGM brand has become part of our DNA,” Fox Home Entertainment worldwide president Mike Dunn said.

“Twentieth Century Fox is a valued partner that has taken great care of the MGM library for many years with the highest degree of integrity,” Barber and Birnbaum said. “They are a tremendous asset to the studio as we look towards the future.”