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It will be released some day
75 million has been sunk into this movie already there is no way MGM or thier creditors are going to let a nearly finished if not completed movie sit on a shelf and let 75 million go down the drain, What will happen is either MGM will come up with away to finish it(if it's not already done) and release the movie or when MGM has thier fire sale someone will buy it up for a song and release it.
It might not be Nov(it wouldn't surprise me if it was though) but if not we will see it next year.
That the thing with rumors no one know which one is right Dark Horizons is reporting that it's finished it's just MGM doesn't have the funds to market and distribute, So if all that is needed is money to market and distribute it someone will jump at the chance to do it.
"The project had been scheduled for a November 24th release this year, but with MGM's spiralling debts the company has withdrawn the project from release as it simply doesn't have the funds to market and distribute films of this size."
http://www.darkhorizons.com/news/17476/-red-dawn-on-indefinite-hold-
Those holding "Red Dawn" shares might be eating them soon [RDAWN]... Jun 10, 13:16
It will be released some day Jun 11, 20:43