concept. Having said that, at one time, when Time Warner and MGM/UA were fighting over the rights to HOBIT, and it looked like it would not ever get made, even that project was in Concept Phase.
However, there are a number a famous plug-pulled projects, like NEWT, which quickly went from Developement to Concept to Delisted.
If you have the H$ to invest in negative news about DRKTW, go ahead, do it. But remember, it could turn around in an instant. I do not need the cash, but if I did, I could free up about 20M since I reversed it by re-shorting.
I do not expect HSX to pull the trigger that quickly, but if they do, a 3M investment cashes out at 6M. Just pay attention.