Sony in Talks to Distribute MGM Films on Blu-ray

Sony Pictures Home Entertainment is reportedly on the verge of signing a new deal with MGM to distribute the studio's films on Blu-ray, as well as all other digital mediums. The studio, which has just recently emerged from bankruptcy, currently has a distribution deal with Fox Home Entertainment which is set to expire in September. If the deal is approved, Sony will take over digital distribution of all future MGM films.

Also part of the proposed deal, Sony will co-finance the next two Bond films, providing 50% of the funding for "Bond 23" and 25% for a sequel, "Bond 24". MGM has also reportedly shown interest in co-financing some upcoming Sony films, including David Fincher's Girl With the Dragon Tattoo and possibly the upcoming Spider-man reboot.

Blu-ray historians will note that Sony originally had distribution rights to the MGM library when the studio was sold to a consortium of investors, including Sony, in 2005. Soon after, MGM's management terminated that deal due to slow sales of MGM catalog films. Sony also co-financed the Daniel Craig Bond films Casino Royale and Quantum of Solace as part of that acquisition, but up until now were not slated to be a major player in "Bond 23".

Sources close to the deal state that while an agreement is very close, a few more details need to be ironed-out before the deal can be competed.