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Terry Semel Wants New Line Cinema?

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We’re fairly certain (and extremely hopeful) that this won’t result in purple costumes and exclamation marks being scattered throughout any movies.  Still, there’s a rumor that former Yahoo CEO Terry Semel might invest in New Line Cinema or MGM.

Nikki Finke reports, "I’ve heard that Semel is seriously kicking the tires at New Line and has alrTerry Semel Wants New Line Cinemaeady had a confab with Time Warner about it. . . .  As for MGM, you may remember that Semel was seriously thinking of heading that beleaguered studio back in 1995 when Ron Perelman was thinking of making a run at it."

It’s hard to know how to take this news; the entertainment industry isn’t something on which we’ve kept an especially close eye.  The idea of Semel’s involvement didn’t seem to disturb Finke, though, and she made clear that New Line’s founders deserve to get fired.  So that’s a decent start.

In other New Line- and MGM-related news, Guillermo del Toro is supposedly in talks to direct both "The Hobbit" films.  The release dates are a long ways off – 2010 and 2011 – but if they turn out either well or badly, it could have us forming a definite opinion on Semel’s involvement.

Terry Semel Wants New Line Cinema?
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  • Guest

    Please please please….get Semel back into the movie business and off the Yahoo board. He’s become an outright embarassment. He’s done nothing for the last six months but cash in stock options for millions of the dollars while the company he ran into the ground goes down the drain. Now the company he chairs is going to lay off hundreds or thousands of employees while he sits fat and happy on the board of directors.

    Terry, being an ex-studio exec, we know you’re utterly incapable of any real shame. We’re just hoping that if Yahoo!’s stock goes down far enough, the value of getting back into movies will be greater than staying on the Yahoo board to cash in your options. We seem to be rapidly reaching that tipping point.

     

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    I think movies are (and have been) a dying breed..I feel like not nearly as many people go to the movies anymore due to the increased price for tickets and food at the theatre as well as the fact that they can just go to one of those red boxes at the supermarket or use Netflix for a fraction of the price…

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