Back in June there was news that "Godzilla vs. Megalon" was going to get a deluxe DVD/Blu-Ray release here in the US, from the same company making the new release for "Destroy All Monsters".
It turns out though that this news is either false, or at least still in a pending process.
This is because Scifijapan.com (who had previously made the DVD/Blu-Ray announcement) is now stating that both Toho Studios and Media Blasters have not secured any rights to the film, despite news otherwise.
While the article does not mention if they are obtaining such rights, we can at least assume that no such release will occur for the time being.
What's interesting about "Godzilla vs. Megalon" is that this film has already entered the "public domain" area. I.e. it has crossed the necessary time in years for the film to be sold by any publisher out there.
But because the movie still contains Godzilla, who is of course trademarked and copyrighted by Toho Studios, any such publications would have to go through them first.
(Licensing a film is a tricky thing, and in fact I'm working on a video about the trouble "Godzilla 1984/1985" has with any US DVD release because of this).
In any case the closest fans can get to "Godzilla vs. Megalon" is through any foreign region DVD, or through the abundant VHS copies still available.
Also here's the original link for further info.
Scifijapan.com: Godzilla vs Megalon Region 1 DVD/Blu-Ray rumors false
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