* It appears that Spyglass Entertainment is going to be the victor in the great MGM buyout. The Wall Street Journal reports that a deal is nearly in place, with Spyglass earning a 4% stake in the legendary studio. Once completed, MGM will have a new line of credit. That means production on films like The Hobbit, James Bond 23, and others will likely be jumpstarted again.
* The Blair Witch Project director, Eduardo Sanchez, is looking to jump back into the horror game with his new film, The Posession. The film will be shot in Maryland, and explores "the thin line between demonic posession and psychosis". Blair Witch took in over $250M worldwide. Sanchez has previously stated that he hopes to release a third film in the series some time in 2010.





