MGM files for bankruptcy

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http://www.thehollywoodnews.com/2010/11 ... ankruptcy/

Oh dear. This could be the end of their company and no more MGM movies. They made Benny & Joon.

Nah. They'll just re-organize their finances, let a few hundred people go, and go on as before. That seems to be the way it goes with large companies. When they're really in trouble is when another company buys them out.

MGM are bust.
Blockbuster are bankrupt.
I read that cable TV companies in America lost 500,000 subscribers in the third quarter of this year.
Newspapers and magazines are folding (pardon the pun).
Book sales are way down and most people don't read much.

So what are people doing to amuse and inform themselves?

See, suing pirates will not save your old dead business model, Hollywood!

Everyone's on the interwebs!

I'm not too worried about the cable companies. Comcast just bought NBC who, in part, owns Hulu. Even if they don't end up charging for what is now free internet content, they still are the primary ISP's in most regions. Broadband service charges have been steadily rising and I wouldn't be surprised if we all saw a huge jump in prices pretty soon.

All great things must come to an end.