Europe's Chellomedia is in talks with MGM to launch a movie channel for Central and Eastern Europe using the re-formed studio's film library as source material.

Chellomedia executive, Susan Elkington, spoke about the merger by saying, "The MGM library is deep, rich and fantastically rounded, including the James Bond franchise. We think there is a niche that isn't being addressed by HBO channels in these markets."

According to The Hollywood Reporter, a formal announcement will be made next week at the MIPTV market in Cannes, France. MGM's first domestic release will be The Weinstein Co's Lucky Number Slevin starring Josh Hartnett, Lucy Liu, Bruce Willis, Morgan Freeman, and Sir Ben Kingsley. That hits theaters April 7th; it's rated R.