Shit... excuse that, but that is the key word here. Father Geek just received the following detailed look into the odds of a new CONAN motion picture being made anytime soon. It appears our favorite barbarian finds himself standing knee deep in a huge pile of it. And it ain't his own either...
I've read your clips regarding the possibility of a new Conan pic, and of course foamed at the mouth(rabid Barbarian fan). So I went to check out all the involved parties and see if there was any other news besides what you had posted. Unfortunately I found some.
I know your aware of most of the following, but just want to establish timeline: Conan Properties, Inc.(CPI) sold the rights to the Conan franchise on 9/12/2000 to Stan Lee Media(STM) for $4.3 million in stock.
On 11/7/200, just two months after acquiring the franchise STM announced they had reached a deal with Warner Bros(WB) to license the Conan character for a feature film.
Here's where it gets messy:
On 12/15/2000 STM announces suspension of its production operations and fires nearly its entire staff.
On 12/18/2000 Nasdaq suspends trading of SLM stock.
On 1/2/2001 SLM announces the SEC is launching a probe into its financial affairs.
Well, remember that stock deal for the Conan franchise to CPI? According to a Dow Jones release "there are certain price and volume protection rights for the shareholders of Conan Properties Inc. for the first 21 months following the acquisition."
Given all this it seems the actual ownership of the Conan property is in question. If the property reverts back to CPI ownership what happens to the WB deal for the movie?
I wasn't sure how much of this you knew, but thought it was fairly important in regards to the future of the Conan movie.
All the best...
The Insider Trader
