Los Angeles Times 11/26/2020

E6 THURSDAY, NOVEMBER 26, 2020 LATIMES.COM/CALENDAR

During the coronavirus

crisis, the Los Angeles

Times is making some tem-

porary changes to our print

sections. The prime-time

TV grid is on hiatus in print

but an expanded version is

available in your daily Times

eNewspaper. You can find a

printable PDF online at:

latimes.com/whats-on-tv.

SERIES

Gilmore Girls: A Year in

the LifeThe final episode

of the rebooted miniseries.

8 p.m. CW

The Masked SingerJay

Pharoah. 8 p.m. Fox

Alaska: The Last Frontier:

The Frozen EdgeThe

Kilcher family gathers for

Thanksgiving at the old

barn. 8 p.m. Animal Planet

I Can See Your VoiceFox

Star Trek: DiscoveryOn

board Discovery, Burnham

(Sonequa Martin-Green)

realizes things are not as

they seem. 10 p.m. CBS

SPECIALS

The 94th Annual Macy’s

Thanksgiving Day Parade

9 a.m. and 2 p.m. NBC

The National Dog Show

John O’Hurley and David

Frei cohost this year’s event

in Oaks, Pa., produced

following state and local

pandemic guidelines. Noon

NBC

SPORTS

NFL FootballThe Texans

visit the Lions, 9:30 a.m.

CBS; Washington visits the

Cowboys, 1:30 p.m. Fox; the

Ravens visit the Steelers,

5:20 p.m. NBC

TALK SHOWS

CBS This Morning(N) 7

a.m. CBS

TodayThe COVID-19 pan-

demic; Goldie Hawn and

Kurt Russell; Marlo Thom-

as. (N) 7 a.m. NBC

Good Morning America

Nicholas Pinnock; chefs

Jamika Pessoa, Eden Grin-

shpan and Jeff Mauro. (N)

7 a.m. ABC

Live With Kelly and Ryan

Shania Twain; Kim Cattrall.

(N) 9 a.m. ABC

Amanpour and Company

(N) 11 p.m. KCET; midnight

KPBS; 1 a.m. KLCS

The Tonight Show Jerry

Seinfeld; Bad Bunny per-

forms. (N) 11:35 p.m. NBC

Late Night The Meyers

family; Kurt Vile performs.

(N) 12:37 a.m. NBC

MOVIES

The Wizard of OzAfter a

tornado whisks Dorothy

(Judy Garland), a Kansas

farm girl, to a magic land,

she must travel to the Emer-

ald City for help in getting

home in the 1939 classic. Ray

Bolger, Bert Lahr, Jack

Haley, Billie Burke, Mar-

garet Hamilton and Frank

Morgan also star. 6 and 8

p.m. TBS

Miss JuneteenthNicole

Beharie stars as a single

mother, and former winner

of the local Miss Juneteenth

pageant, who enters her

15-year-old daughter (Alexis

Chikaeze) in this year’s

competition. 8 p.m. BET

Christmas by StarlightA

lawyer (Kimberley Sustad)

makes a deal with the heir

(Paul Campbell) to a devel-

opment firm to spare her

family’s restaurant from

demolition, if she pretends

to be his attorney in this new

holiday romance. 8 p.m.

Hallmark

1917 George MacKay and

Dean-Charles Chapman

star as young British sol-

diers entrusted with deliv-

ering a vital message calling

off a doomed attack by

Allied forces, in this 2019

World War I drama. 9 p.m.

Showtime

Frozen(2013) 9:07 a.m.

Starz

Chitty Chitty Bang Bang

(1968) Noon TCM

The Black Stallion(1979)

2:45 p.m. TCM

Shrek(2001) 3, 5, 7 and 9

p.m. Bravo

Kung Fu Panda 2(2011) 3

p.m. Nickelodeon

TV Highlights

BURNHAM(Sonequa

Martin-Green) senses a

problem in a new “Star

Trek: Discovery” on CBS.

Jan ThijsCBS

tent consumers,” said S&P
analyst David Snowden.
”But this is a small, inde-
pendent movie studio with
volatile revenues.”
Many challenges MGM
faces are shared by other
midsize studios. Analysts ex-
pect it to become more diffi-
cult for MGM to compete as
an independent entity as
larger companies, such as
Walt Disney Co. and Com-
cast’s NBCUniversal, grow
through streaming.
“It’s hard to imagine any
of the smaller studios being
stand-alone over the next
several years,” said Light-
Shed Partners media analyst
Rich Greenfield.
Much of the investor ten-
sion has centered on the
chairman of MGM’s board,
Kevin Ulrich, who is chief exe-
cutive of investment firm An-
chorage Capital Group, the
studio’s leading shareholder.
Some investors who want
to sell think Ulrich, who co-
founded Anchorage in 2003,
has become too enamored
with the entertainment in-
dustry, said people close to
the company who were not
authorized to comment.
Others believe Ulrich is sim-
ply holding out for a higher
valuation. The Wall Street
Journal earlier reported in-
vestor pressure on MGM.
Anchorage and Ulrich de-
clined to comment.
MGM and Anchorage
have yet to publicly comment
on a sexual assault allegation
made, and subsequently
withdrawn, against Ulrich.
On June 2, Jennifer B.
Perry sued Ulrich for sexual
battery and sexual assault,
alleging he assaulted her in a
room in New York City’s up-
scale Mercer hotel on July 25,
2019, according to recently
surfaced documents filed
with the New York Supreme
Court. On July 2, Perry with-
drew her case.
Neither Perry, nor her at-
torneys, responded to re-
quests for comment. Anchor-
age told investors it settled
the suit, according to the fi-
nancial publication Institu-
tional Investor, which first re-
ported the lawsuit. The
Times could not independ-
ently verify the settlement.
New York-based Anchor-
age was among a group of
MGM’s top creditors who be-
came shareholders when the
studio emerged from Chap-
ter 11 protection in December
2010 under a prepackaged
plan to wipe out $4 billion in
debt.
Hedge funds and private
equity investors such as An-
chorage usually invest in
companies for three to five
years before selling, though
some distressed assets take
longer to change hands, in-
dustry analysts said.
“The longer you hold an
asset, the lower your return
on investment is going to be,”
said Lloyd Greif, founder of

Los Angeles investment

bank Greif & Co. “The fact of

the pandemic coming along

has increased the gamble.”

The company’s decentral-

ized management structure

has also presented a chal-

lenge, sources familiar with

the company said. Since 2018,

MGM has been run by an “of-

fice of the CEO” that includes

Chief Operating Officer

Chris Brearton, TV head

Mark Burnett and other exe-

cutives.

MGM adopted the struc-

ture when CEO Gary Barber

was abruptly fired after eight

years. Barber had been push-

ing for a sale, which Ulrich op-

posed, according to people

familiar with the matter who

were not authorized to com-

ment. MGM’s stock was val-

ued higher than $110 a share

in 2018. Now its shares are

priced at $84.50, according to

FactSet.

MGM spokeswoman

Katie Martin Kelley declined

to comment on sale discus-

sions but said the leadership

structure has worked well.

“The studio has, and will

continue to, make decisions

that are right for the overall

business and our sharehold-

ers,” Kelley said.

Another source of friction

within the company is the

clout of reality television im-

presario Burnett, the “Sur-

vivor” and “Shark Tank” pro-

ducer who became head of

MGM’s TV division in 2016,

several people close to the

company said. Burnett influ-

enced Ulrich’s decision to

oust Barber, these people

said.

MGM disputes the claim.

“Mr. Burnett is not a board

member of MGM and does

not control board member

decisions,” Kelley said.

Burnett, the sources said,

has gained sway with Ulrich

by showing him the glitzy el-

ements of the industry, in-

cluding bringing him to ex-

clusive parties and taking

him backstage at “The

Voice.”

Known for creating some

of the biggest phenomena of

the reality TV boom, Burnett

has produced few major hits

since joining MGM, as de-

tailed in recent critical New

York Times and Hollywood

Reporter stories. A long-dis-

cussed faith-based stream-

ing platform from Burnett

and his wife Roma Downey’s

production company Light-

Workers Media, owned by

MGM, has yet to emerge.

Still, Burnett has shows

on all four major broadcast

networks, including Fox’s

“Beat Shazam.”

His unit has “consistently

been the most profitable

original content division in

the company,” MGM’s Kelley

said. “To reach this level of

success fiscally and crea-

tively over so many years re-

quires sophisticated dele-

gation and management, in-

cluding an understanding of

both holistic and strategic

growth.”

Kelley said “market con-

ditions” slowed LightWork-

ers’ progress in subscription

streaming but that MGM is

“still actively engaged with

investors.”

Some of MGM’s moves

during the pandemic have

fueled sale rumors. Michael

De Luca, named film chair-

man in January, has been

making splashy deals with

filmmakers to beef up its

slate.

MGM in November trum-

peted plans for Oprah Win-

frey and Brad Pitt to produce

an adaptation of Ta-Nehisi

Coates’ “The Water Dancer.”

In August, the company an-

nounced a plan to remake its

Orion Pictures label to focus

on movies with diverse film-

makers and casts under

Alana Mayo, the former pro-

duction head of Michael B.

Jordan’s company Outlier

Society.

It’s unclear who would be

a buyer. Apple and Amazon

were thought to be potential

acquirers due largely to the

appeal of the company’s film

and TV library, which in-

cludes 4,000 movies such as

“Robocop” “The Pink Pan-

ther” and “The Silence of the

Lambs.” Its scripted TV divi-

sion is responsible for

“Fargo,” “The Handmaid’s

Tale” and “Vikings.”

Speculation has swirled

that Barber, who runs Spy-

glass Media Group, could

make a run at the company,

which values itself north of

$7.5 billion, industry insiders

said. MGM’s 2018 agreement

to buy out Barber’s stake for

$260 million prohibits him

from getting involved in

MGM matters for three

years. A spokesperson for

Barber declined to comment.

With the pandemic delay-

ing film releases, MGM had

preliminary talks with Apple

and Netflix to sell the U.S dis-

tribution rights to “No Time

to Die” for a one-year license,

said people familiar with the

negotiations. MGM wanted

as much as $800 million for

the Bond rights, and no

streamer was willing to offer

close to that. Apple and Net-

flix declined to comment.

The studio would have

had to convince 007 produc-

ers Barbara Broccoli and

Michael G. Wilson of the mer-

its of such a deal. “No Time

To Die” would normally gross

more than $800 million at the

global box office, with hun-

dreds of millions more from

home video and other reve-

nue streams.

“It’s MGM’s golden goose,

but it’s the Broccolis’ plati-

num goose,” said one pro-

ducer familiar with the fran-

chise who requested ano-

nymity to avoid repercus-

sions.

MGM said it is “commit-

ted” to a theatrical release.

Although MGM has $2.3

billion in long-term debt, it is

not facing a crunch and

there’s no immediate need

for a sale. MGM had $280 mil-

lion available under the $1.8

billion loan maturing in July

2023, giving it enough liquidi-

ty to meet its obligations over

the next year, S&P said.

The pandemic took a toll,

prompting the studio to cut

7% of its 750-person work-

force in April. In the third

quarter, revenue fell 12 % to

$308.5 million and the com-

pany posted an $18.1 million

loss, reflecting falling box of-

fice and television licensing

revenues. Last year, MGM

had a $436.2 million loss in

the third quarter after a

write-off from its investment

in pay TV network Epix.

But COO Brearton

sounded upbeat in the earn-

ings call, citing upcoming TV

productions such as Season 4

of Hulu’s “Handmaid’s Tale”

and the series “Clarice” for

CBS. Movies for 2021 include

the Aretha Franklin biopic

“Respect” and a Jordan

Peele-produced “Candy-

man” reboot.

“We’ve also seen a tremen-

dous amount of operational

momentum in each of our

core businesses,” he told in-

vestors. “The content shifts

and restart of production

have set a stage for 2021 that

will potentially be one of the

biggest years for new content

in recent MGM history.”

Times staff writer Meg

James contributed to this

report.

MGM struggles to roar again

[MGM, from E1]

DANIEL CRAIG as James Bond and Ana de Armas star in “No Time To Die,”

whose release was postponed by MGM until Easter due to theater closures.

Nicola DoveMGM

ROMA DOWNEYand husband Mark Burnett have

discussed a faith-based streaming platform at MGM.

Al Seib Los Angeles Times

than Goldie Hawn, marking
this longtime Hollywood
couple’s first onscreen re-
union since their 1987 come-
dy, “Overboard.”
“The Christmas Chroni-
cles” — or, as I like to think of
it, “Overbeard” — wasn’t a
particularly good movie, but
it passed the time amiably
enough, and that last mo-
ment showed modest charm
and real promise.
Given the natural pleas-
ure of seeing Russell and
Hawn share the screen, the
next entry in the inevitable
“Christmas Chronicles”
franchise might have done
well to ditch its prede-
cessor’s kid protagonists
and tried something a little
different. The Clauses could
have been cast as merry-
making sleuths in a St. Nick-
and-Nora-style detective se-
ries. Or they could have built
on that Netflix synergy by
overseeing a North Pole pas-
try-making competition.
“The Great Elvish Baking
Show”? Would watch.
None of this has come to
pass in “The Christmas
Chronicles: Part Two,” an
unremarkable if far from un-
pleasant sequel arriving just
in time to brighten your
locked-down holiday festiv-
ities. For better or worse, the
kids stay in the picture, and
the directing reins have
passed from Clay Kaytis to
the veteran Chris Columbus,
who has an obvious track
record with children, fantasy
and holiday-centric may-
hem.
Like the first two “Harry
Potter” films he directed,
“The Christmas Chronicles:

Part Two” is a busy, imper-

sonal amalgam of whimsical

inventions, teachable mo-

ments and fluid visual ef-

fects, marshaled in service of

an aesthetic that brings to

mind a Thomas Kinkade

deluxe snow globe. And as in

Columbus’ 1990 holiday pe-

rennial, “Home Alone,” there

are parent-child tensions

and villainous home invad-

ers galore, even if no one

takes an iron to the face or a

pellet to the groin this time

around.

Darby Camp is back as

Kate Pierce, the high-spir-

ited young girl who went for a

fateful ride in Santa’s sleigh

in the first “Chronicles” — a

journey that dispensed some

much-needed uplift for her

and her older brother, Teddy

(Judah Lewis), still grieving

their dad’s untimely death.

As the sequel opens, Kate

is miserably enduring the

First World horrors of a

Christmas holiday in sunny

Cancún with Teddy and

their mom, Claire (Kimberly

Williams-Paisley). Not a

huge fan of the tropics, or of

Claire’s new boyfriend, Bob

(Tyrese Gibson), Kate would

rather be sipping hot choco-

late around the fire with

Santa and his Minion-like

computer-generated elves.

She’ll get her wish,

thanks to a disgruntled elf

named Belsnickel (played in

cursed human form by New

Zealand actor Julian Denni-

son), who zaps Kate back to

the North Pole as part of a

convoluted hostile takeover

plot. Tagging along this time

is Bob’s young son, Jack

(Jahzir Bruno, “The

Witches”), a sweet, overly

anxious kid who’s soon hap-

pily stuffing his face at Mrs.

Claus’ dinner table. But their

idyll doesn’t last long. Bel-

snickel — goodness, that’s a

fun name to write — soon at-

tacks the North Pole with

the help of a ferocious Yule

Cat and a lot of high-tech

gadgets, unleashing chaos,

endangering reindeer and

turning all those cute elves

into property-smashing,

chainsaw-wielding maniacs.

That transformation

might put you in mind of the

creepy 1984 Christmas favor-

ite “Gremlins,” which, not

coincidentally, was written

by Columbus, in a warm-up

for his future exercises in

havoc-wreaking. He scripted

this new movie too, with

Matt Lieberman (the first

film’s writer), and it’s expect-

edly formulaic stuff, dispens-

ing personal-growth narra-

tives and believe-in-yourself

platitudes like stocking

stuffers. Still, amid all the

quest-driven subplots and

flat line readings, it does find

time for a few intriguing

nuggets of authentic Santa

Claus lore, including an

evocative flashback to St.

Nicholas’ Turkish mytholog-

ical origins.

The movie’s more sus-

tained bout of time travel

finds Santa and Kate

whooshing randomly back

to 1990 Boston, where

stranded airline passengers

need an uptick in Christmas

spirit. Naturally, one of San-

ta’s impromptu musical

numbers does the trick, al-

lowing Russell to flash that

twinkle and show off a damn

good set of pipes. It’s not long

before the passengers are

happily homeward-bound,

likely in the company of an

in-flight movie neither better

nor worse than this one.

This ‘Christmas’ needs more Clauses

TYRESE GIBSON and Kimberly Williams-Paisley get into the holiday spirit in

the tropics in “The Christmas Chronicles: Part Two,” directed by Chris Columbus.

Joseph LedererNetflix

‘The Christmas

Chronicles:

Part Two’

Rated: PG, for mild

action/violence and brief

language

Running time:1 hour,

55 minutes

Playing:Anytime on

Netflix

[‘Christmas,’ from E1]