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{{Redirect|MGM}}
{{Use mdy dates|date=July 2011}}
{{Infobox company
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| logo = [[Image:MGM logo.png|250px]]
| caption =
| foundation =
| founder = [[Marcus Loew]]
| key_people = [[Gary Barber]]<br/>([[Chairman]] and CEO)<ref>{{cite web|url=http://www.mgm.com/corporate/section/bio/id/0/index.html|title=MGM Studios: Corporate Info|accessdate=December 20, 2010}}</ref><br/>[[Jonathan Glickman]], President of Film Division<ref>{{cite news|url=http://www.deadline.com/2011/02/jonathan-glickman-new-mgm-film-president |title=Jonathan Glickman Named MGM Film Prez |last=Finke |first=Nikki |authorlink=Nikki Finke |work=[[Deadline.com]] |date=2 February 2011 |accessdate=2013-09-20}}</ref>
| industry = Film
| products = Motion pictures<br/>Television programs
| revenue =
| subsid=[[United Artists|United Artists Media Group]]<br>[[Orion Pictures]]
| homepage = {{URL|mgm.com}}
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'''Metro-Goldwyn-Mayer Studios Inc.''' (also known as '''Metro-Goldwyn-Mayer Pictures''', '''Metro-Goldwyn-Mayer''', or simply '''MGM'''), is an American media company, involved primarily in the production and distribution of films and television programs.
Once the largest and most glamorous of film studios, MGM was founded in 1924 when the entertainment entrepreneur [[Marcus Loew]] gained control of [[Metro Pictures]], [[Goldwyn Pictures|Goldwyn Pictures Corporation]] and [[Louis B. Mayer|Louis B. Mayer Pictures]].<ref name="Eyman">{{cite book|last1=Eyman|first1=Scott|title=Lion of Hollywood: The Life and Legend of Louis B. Mayer|date=2005|publisher=Simon & Schuster|location=New York|isbn=0-7432-0481-6}}</ref><ref name="Balio">{{cite book|last1=Balio|first1=Tino|title=The American film industry|date=1985|publisher=University of Wisconsin Press|location=Madison, Wis.|isbn=0-299-09874-5|edition=Rev.}}</ref> Its headquarters are in [[Beverly Hills, California]]. It's
In 1971, it was announced that MGM would merge with [[20th Century Fox]], a plan which never came into fruition.<ref name=1971sale/> Over the next thirty-nine years, the studio was bought and sold at various points in its history until, on November 3, 2010, MGM filed for Chapter 11 bankruptcy.<ref name="businessweek.com">{{cite web|url=http://www.businessweek.com/news/2010-11-03/mgm-files-bankruptcy-rejecting-lions-gate-icahn-bid.html |title=Business News, Stock market & Financial Advice |publisher=Businessweek |date= |accessdate=2014-08-06}}{{Dead link|date=August 2014}}</ref><ref name="bankruptcy">{{cite web|url=http://www.thehollywoodnews.com/2010/11/03/mgm-officially-file-bankruptcy |title=MGM Officially File For Bankruptcy |publisher=The Hollywood News |date=2010-11-03 |accessdate=2014-08-06}}</ref><ref name="bankruptcy2">{{cite web|url=http://www.variety.com/article/VR1118026917?refCatId=13 |title=Judge OKs MGM bankruptcy motions |publisher=Variety |date=2010-11-04 |accessdate=2014-07-20}}</ref> MGM emerged from bankruptcy on December 20, 2010, at which time the executives of [[Spyglass Entertainment]], [[Gary Barber]] and [[Roger Birnbaum]], became co-Chairmen and co-CEOs of the [[MGM Holdings|holding company of Metro-Goldwyn-Mayer]].<ref>{{cite web|author=Posted on Jan 29, 2011 7:05pm PST |url=http://www.findabankruptcylawyer.com/Latest-News/2011/January/MGM-Emerges-from-Bankruptcy.aspx |title=Bankruptcy Attorney Directory | MGM Emerges from Bankruptcy |publisher=Findabankruptcylawyer.com |date=2011-01-29 |accessdate=2014-08-06}}</ref><ref name=MGM-2010-Restruc-00>{{cite news|url=http://online.wsj.com/public/resources/documents/CopyMGM.pdf |title= MGM 2010 Restructing | publisher=online.wsj.com| accessdate=Jan 5, 2012}}</ref><ref name=MGM-2010-Restruc-02>{{cite web|url=http://www.globaltimes.cn/business/world/2010-12/603275.html |title= MGM 2010 Restructing | publisher=globaltimes.cn| accessdate=Jan 5, 2012}}{{Dead link|date=August 2014}}</ref><ref name=MGM-2010-Restruc-04>{{cite web|url=http://www.prnewswire.com/news-releases/mgm-restructuring-plan-becomes-effective-112209709.html |title= Gary Barber and Roger Birnbaum assume leadership immediately as Co-Chairmen and Chief Executive Officers of MGM| publisher=prnewswire.com| accessdate=Jan 5, 2012}}</ref>
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==Leo logo and mottos==
[[File:MGM Tower.jpg|thumb|left|upright|[[MGM Tower]], former company headquarters highlighted by the famous [[Leo the Lion (MGM)|Leo the Lion]] logo at the top]]
The studio's official [[motto]], "''Ars Gratia Artis''", is a [[Latin]] phrase meaning "[[Art for art's sake]]";<ref>{{cite book|last1=Welsh|first1=James M.|last2=Cahir|first2=Linda Costanzo|title=Literature Into film: Theory and Practical Approaches|date=2006|publisher=McFarland|location=Jefferson (N.C.)|isbn=0-7864-2597-0}}</ref><ref>{{cite book|last1=Naremore|first1=James|last2=Brantlinger|first2=Patrick|title=Modernity and Mass Culture|date=1991|publisher=Indiana University Press|location=Bloomington|isbn=0-253-20627-8|edition=[Nachdr.].}}</ref><ref name="Wayne">{{cite book|last1=Wayne|first1=Jane Ellen|title=The Golden Girls of MGM: Greta Garbo, Joan Crawford, Lana Turner, Judy Garland, Ava Gardner, Grace Kelly, and Others|date=2004|publisher=Carroll & Graf|location=New York|isbn=0-7867-1303-8|edition=Reprint}}</ref><ref name="NYPLibrary">{{cite book|last1=Corey|first1=Melinda|last2=Ochoa|first2=George|last3=Berliner|first3=Barbara|title=The Book of Answers: the New York Public Library Telephone Reference Service's Most Unusual and Entertaining Questions|date=1990|publisher=Simon & Schuster|location=New York|isbn=0-671-76192-7|edition=1st Fireside}}</ref> it was chosen by [[Howard Dietz]], the studio's chief publicist<!-- *DO NOT* insert "in 1924" here, even if the references say so; it appeared on the Goldwyn Pictures logo from the beginning. -->.<ref name="NYPLibrary" /><ref>{{cite book|last1=Sheed|first1=Wilfrid|title=The house that George Built: With a Little Help from Irving, Cole, and a Crew of About Fifty|date=2008|publisher=Random House|location=New York|isbn=0-8129-7018-7|edition=1st pbk. ed.}}</ref><ref name="Grove">{{cite book|last1=Silvester|first1=Christopher|title=The Grove Book of Hollywood|date=1998|publisher=Grove Press|location=New York|isbn=0-8021-3878-0|edition=1st Grove Press pbk. ed.}}</ref> The studio's logo is a roaring lion surrounded by a ring of film inscribed with the studio's motto. The logo, which features [[Leo the Lion (MGM)|Leo the Lion]], was created by Dietz in 1916 for Goldwyn Pictures and updated in 1924 for MGM's use.<ref name="NYPLibrary" /><ref>{{cite book|last1=Flexner|first1=Stuart Berg|title=Listening to America: An Illustrated History of Words and Phrases From Our Lively and Splendid Past|date=1982|publisher=Simon and Schuster|location=New York|isbn=0-671-24895-2|edition=1st Touchstone ed.}}</ref><ref name="Crabb">{{cite book|last1=Crabb|first1=Kelly Charles|title=The Movie Business: The Definitive Guide to the Legal and Financial Secrets of Getting Your Movie |date=2005|publisher=Simon & Schuster|location=New York|isbn=0-7432-6492-4}}</ref> Dietz based the logo on his alma mater's [[mascot]], the [[Columbia University]] lion.<ref name="NYPLibrary" /><ref name="Grove" /><ref>{{cite book|last1=Fordin|first1=Hugh|title=M-G-M's Greatest Musicals: The Arthur Freed Unit|date=1996|publisher=Da Capo Press|location=New York|isbn=0-306-80730-0|edition=1. Da Capo Press ed., unabridged republ. of the ed. New York 1975.}}</ref><ref>{{cite book|last1=Stillman|first1=William|last2=Scarfone|first2=Jay|title=The Wizardry of Oz: The Artistry and Magic of the 1939 M-G-M Classic|date=2004|publisher=Wayne State U.P.|location=New York|isbn=1-55783-624-8|edition=Rev. and expanded ed.}}</ref> Originally silent, the sound of Leo the Lion's roar was added to films for the first time in August 1928.<ref name="Wayne" /> In the 1930s and 1940s, the studio billed itself as having "more stars than there are in heaven", a reference to the large number of [[A-list]] movie stars under contract to the company.<ref name="Crabb" /><ref>{{cite book|last1=Doherty|first1=Thomas|title=''Pre-Code Hollywood: Sex, Immorality, and Insurrection in American Cinema, 1930–1934|date=1999|publisher=Columbia university press|location=New York|isbn=0-231-11095-2}}</ref><ref>{{cite book|last1=Hark|first1=ed. by Ina Rae|title=American Cinema of the 1930s: Themes and Variations|date=2007|publisher=Rutgers Univ. Press|location=New Brunswick, NJ [u.a.]|isbn=0-8135-4082-8|edition=[Online-Ausg.].}}</ref><ref>{{cite book|last1=Pitt|first1=Leonard|last2=Pitt|first2=Dale|title=Los Angeles A to Z: An Encyclopedia of the City and County|date=2000|publisher=University of California Press|location=Berkeley, Calif.|isbn=0-520-20530-8|edition=[New ed.].}}</ref> This second motto was also coined by Dietz,<ref>{{cite book|last1=Dardis|first1=Tom|title=''Keaton, the Man Who Wouldn't Lie Down|date=1988|publisher=Limelight Editions|location=New York|isbn=0-87910-117-2|edition=1st Limelight ed.}}</ref><ref>{{cite book|last1=Walker|first1=Alexander|title=Elizabeth|date=2001|publisher=Grove Press|location=New York|isbn=0-8021-3769-5|edition=1st Grove Press pbk. ed.}}</ref><ref>{{cite book|last1=Fleming|first1=E.J.|title=The Fixers: Eddie Mannix, Howard Strickling, and the MGM Publicity Machine|date=2005|publisher=McFarland & Co.|location=Jefferson, N.C.|isbn=0-7864-2027-8}}</ref><ref>{{cite book|last1=Dietz|first1=Howard|title=Dancing in the Dark with Howard Dietz [uncorrected page proof].|date=1974|publisher=Quadrangle / The New York Times Book Co.|location=[New York]|isbn=0-8129-0439-7}}</ref> and was first used in 1932.<ref>{{cite book|last1=Carey|first1=Gary|title=All the Stars in Heaven: Louis B. Mayer's MGM|date=1982|publisher=Robson Books|location=London|isbn=0-525-05245-3|edition=1st}}</ref>
==Overview==
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{{Very long|section|date=August 2014}}
}}
In 1924, movie theater magnate [[Marcus Loew]] bought [[Metro Pictures|Metro Pictures Corporation]] (founded in 1916) and [[Goldwyn Pictures]] (founded in 1917) to provide a steady supply of films for his large [[Loews Cineplex Entertainment|Loew's Theatres]] chain. However, these purchases created a need for someone to oversee his new Hollywood operations, since longtime assistant [[Nicholas Schenck]] was needed in New York headquarters to oversee the 150 theaters. Loew addressed the situation by buying [[Louis B. Mayer]] Pictures on April 17, 1924. Because of his decade-long success as a producer, Mayer was made a vice-president of Loew's and head of studio operations in California, with [[Harry Rapf]] and [[Irving Thalberg]] as heads of production. For decades, MGM was listed on movie title cards as "Controlled by Loew's, Inc."
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Marcus Loew died in 1927, and control of Loew's passed to Nicholas Schenck. In 1929, [[William Fox (producer)|William Fox]] of [[Fox Film Corporation]] bought the Loew family's holdings with Schenck's assent. Mayer and Thalberg disagreed with the decision. Mayer was active in the California Republican Party and used his political connections to persuade the [[United States Department of Justice|Justice Department]] to delay final approval of the deal on [[Competition law|antitrust]] grounds. During this time, in the summer of 1929, Fox was badly hurt in an automobile accident. By the time he recovered, the [[Wall Street Crash of 1929|stock market crash]] in the fall of 1929 had nearly wiped Fox out and ended any chance of the Loew's merger going through. Schenck and Mayer had never gotten along (Mayer reportedly referred to his boss as "Mr. Skunk"),<ref>{{cite book |title=MGM: When the Lion Roars |last=Háy |first=Peter |authorlink=Peter Háy (Canadian author, publisher and bookseller) |year=1991 |publisher=Turner Publications |isbn=978-1-878685-04-9 |url= }}</ref> and the abortive Fox merger increased the animosity between the two men. Also, in 1933, [[Loew's Incorporated]] was in the process of acquiring bankrupt [[Paramount Pictures]] and its 1700 theatres, until profits from [[Mae West]]'s risque features rescued the failing Paramount.{{Citation needed|date=August 2014}}
[[File:Gable, Clark 01.jpg|right|thumb|150px|[[Clark Gable]]]]
From the outset, MGM tapped into the audience's need for glamour and sophistication. Having inherited few big names from their predecessor companies, Mayer and Thalberg began at once to create and publicize a host of new stars, among them [[Greta Garbo]], [[John Gilbert (actor)|John Gilbert]], [[William Haines]], [[Joan Crawford]], and [[Norma Shearer]] (who followed Thalberg from Universal) . Established names like [[Lon Chaney, Sr.|Lon Chaney]], [[William Powell]], [[Buster Keaton]], and [[Wallace Beery]] were hired from other studios. They also hired top directors such as [[King Vidor]], [[Clarence Brown]], [[Erich von Stroheim]], [[Tod Browning]], and [[Victor Seastrom]]. The arrival of talking pictures in 1928–29 gave opportunities to other new stars, many of whom would carry MGM through the 1930s: [[Clark Gable]], [[Jean Harlow]], [[Robert Montgomery (actor)|Robert Montgomery]], [[Spencer Tracy]], [[Myrna Loy]], [[Jeanette MacDonald]], and [[Nelson Eddy]] among them.
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In 1954, as a settlement of the government's restraint-of-trade action, ''[[United States v. Paramount Pictures, Inc.]]'' 334 US 131 (1948), [[Loews Cineplex Entertainment|Loews, Inc.]] gave up control of MGM. It would take another five years before the interlocking arrangements were completely undone, by which time both Loews and MGM were sinking. Schary bowed out of MGM in 1956.
{{Main|Metro-Goldwyn-Mayer cartoon studio}}
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Avery left the studio in 1953, leaving Hanna and Barbera to focus on the popular ''Tom and Jerry'' and ''Droopy'' series. After 1955, all cartoons were filmed in [[CinemaScope]] until MGM closed its cartoon division in 1957.
===
As the studio system faded in the late 1950s and 1960s, MGM's prestige faded with it. In 1957 (by coincidence, the year L.B. Mayer died) the studio lost money for the first time in its 34-year history. Cost overruns and the failure of the 1957 big-budget epic ''[[Raintree County (film)|Raintree County]]'' prompted the studio to release Schary from his contract. Schary's reign at MGM had been marked with few bona-fide hits, but his departure (along with the retirement of Schenck in 1955) left a power vacuum that would prove difficult to fill. Initially [[Joseph Vogel (executive)|Joseph Vogel]] became president and [[Sol Siegel]] head of production. By 1960, MGM had released all of its contract players, with many either retiring or moving on to television.
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MGM fell into a habit in this period that would eventually sink the studio: an entire year's production schedule relied on the success of one big-budget epic each year. This policy began in 1959, when ''Ben–Hur'' was profitable enough to carry the studio through 1960. However, later attempts at big-budget epics failed, among them four films which, in addition to ''Ben–Hur'', were also remakes — ''[[Cimarron (1960 film)|Cimarron]]'' (1960), ''[[King of Kings (1961 film)|King of Kings]]'' (1961), ''[[Four Horsemen of the Apocalypse (film)|Four Horsemen of the Apocalypse]]'' (1961), and most notoriously, the 1962 ''[[Mutiny on the Bounty (1962 film)|Mutiny on the Bounty]]''. The 1962 Cinerama film ''[[The Wonderful World of the Brothers Grimm]]'', the first film in [[Cinerama]] to actually tell a story, was also a flop. But one other epic that was a success, however, was the MGM-Cinerama co-production ''[[How the West Was Won (film)|How the West Was Won]]'', with a huge all-star cast. ''King of Kings'', while a commercial and critical flop at the time, has since come to be regarded as a film classic. The losses caused by these films led to the resignations of Sol Siegel and Joseph Vogel who were replaced by [[Robert M. Weitman]] (head of production) and [[Robert O'Brien (executive)|Robert O'Brien]] (president).
The combination of O'Brien and Weitman seemed to temporarily revive the studio. In 1965 MGM released [[David Lean]]'s immensely popular ''[[Doctor Zhivago (film)|Doctor Zhivago]]'',<ref>{{cite web|author=Uncle Scoopy |url=http://www.scoopy.com/doctorzhivago.htm |title=Doctor Zhivago |publisher=Scoopy.com |date= |accessdate=2011-12-15}}</ref> later followed by such hits as ''[[The Dirty Dozen]]'' (1967) and ''[[2001: A Space Odyssey (film)|2001: A Space Odyssey]]'' (1968). However the company's time was taken up fighting off proxy attacks by [[corporate raid]]ers, and then MGM backed a series of flops, including ''[[Ryan's Daughter]]'' (1970). Weitman moved over to Columbia in 1967 and O'Brien was forced to resign a few years later.
[[Edgar Bronfman, Sr.]] purchased a controlling interest in MGM in 1966 (and was briefly chairman of the board in 1969),<ref>{{cite book|last1=McDougal|first1=Dennis|title=The Last Mogul: Lew Wasserman, MCA, and the Hidden History of Hollywood|date=2001|publisher=Da Capo Press|location=[New York?]|isbn=0-306-81050-6|edition=1st Da Capo Press ed.}}</ref><ref>{{cite book|last1=Newman|first1=Peter C.|title=King of the Castle: The Making of a Dynasty: Seagram's and the Bronfman empire|date=1979|publisher=Atheneum|location=New York|isbn=0-689-10963-6|edition=1st American ed.}}</ref> and in 1967 [[Time Inc.]] became the company's second-largest shareholder.<ref>{{cite book|last1=Norton-Taylor|first1=Robert T. Elson. Edited by Duncan|title=Time Inc: The Intimate History of a Changing Enterprise, 1960-1980|date=1985|publisher=Atheneum|location=New York|isbn=0-689-11315-3|edition=[1st ed.].}}</ref><ref>Diamond, Edwin. "The Power Vacuum at Time Continues.'' ''[[New York (magazine)|New York]].'' October 23, 1972.</ref> In 1969, [[Kirk Kerkorian]] purchased 40 percent of MGM from Bronfman and Time, Inc.,<ref name="Lewis">{{cite book|last1=Lewis|first1=ed. by Jon|title=The New American Cinema|date=1999|publisher=Duke Univ. Press|location=Durham [u.a.]|isbn=0-8223-2115-7|edition=3. printing.}}</ref> What appealed to Kerkorian was MGM's Culver City real estate, and the value of 45 years' worth of glamour associated with the name, which he attached to a Las Vegas hotel and [[casino]]. As for film-making, that part of the company was quickly and severely [[Layoff|downsized]] under the supervision of [[James Thomas Aubrey, Jr.|James T. Aubrey, Jr.]] With changes in its business model including fewer pictures per year, more location shooting and more distribution of independent productions, MGM's operations were rationalized. Aubrey sold off MGM's accumulation of props, furnishings and historical memorabilia, including a pair of Dorothy's [[ruby slippers]] from ''The Wizard of Oz''. Lot 3, {{convert|40|acre|m2}} of back-lot property, was sold off for real-estate development. In 1971, it was announced that MGM would merge with [[20th Century Fox]], a plan which never came into fruition.<ref name=1971sale>{{cite news|url=http://articles.latimes.com/1990-03-08/business/fi-2987_1_mgm-grand |title=MGM/UA Under Kerkorian Meant 20 Years of Change |work=[[Los Angeles Times]] |date=8 March 1990 |accessdate=2013-09-20}}</ref>
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The [[Cherokee Studios|MGM Recording Studios]] were sold in 1975. In 1979, Kerkorian declared that MGM was now primarily a hotel company. The company hit a symbolic low point in 1980 when [[David Begelman]], earlier let go by Columbia following the discovery of his acts of forgery and embezzlement, was installed as MGM's President and CEO.
[[Image:MGM Studio Takeover.jpg|thumbnail|right|250px|The MGM sign being dismantled once Lorimar took control of the studio lot]]
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After the purchase of United Artists, David Begelman's duties were transferred to that unit. Under Begelman, MGM/UA produced a number of unsuccessful films, and he was fired in July 1982. Out of the 11 films he put into production, by the time of his release from the studio, only one film, ''[[Poltergeist (film)|Poltergeist]]'', proved to be a clear hit.<ref>Harmetz, Aljean (July 12, 1982). [http://www.nytimes.com/1982/07/13/business/begelman-removed-as-chief-of-united-artists.html "Begelman Removed as Chief of United Artists."] ''[[The New York Times]]''.</ref> Not even MGM's greatest asset - its library - was enough to keep the studio afloat.<ref name = "lbm" /> After 1982, the studio relied more on distribution, picking up independent productions, rather than financing their own.<ref name = "lbm" />
On August 7, 1985, [[Turner Broadcasting System]] offered to buy MGM/UA. As film licensing to television became more complicated, [[Ted Turner]] saw the value of acquiring MGM's film library for his superstation [[TBS (TV network)|WTBS]].<ref name = "lbm" /> On March 25 of the following year, the deal was finalized in a cash-stock deal for $1.5 billion,<ref name="Bart" /><ref name = "lbm" /><ref name="Turner">{{cite book|last1=Parsons|first1=Patrick R.|title=Skies: A History of Cable Television|date=2008|publisher=Temple University Press|location=Philadelphia|isbn=1-59213-287-1|edition=[Online-Ausg.]}}</ref><ref>{{cite book|last1=Stefoff|first1=Rebecca|title=Ted Turner, Television's Triumphant Tiger|date=1992|publisher=Garrett Educational Corp.|location=Ada, Okla.|isbn=1-56074-024-8}}</ref> and the company was renamed "MGM Entertainment Co.".<ref>{{cite news|url=http://pqasb.pqarchiver.com/chicagotribune/access/24900226.html?dids=24900226:24900226&FMT=ABS&FMTS=ABS:FT&type=current&date=May+07%2C+1986&author=Charles+Storch&pub=Chicago+Tribune+(pre-1997+Fulltext)&desc=TURNER+MAY+SELL+EQUITY+IN+COMPANY&pqatl=google |title=Chicago Tribune: Turner May Sell Equity In Company |publisher=Pqasb.pqarchiver.com |date=1986-05-07 |accessdate=2011-12-15 |first=Charles |last=Storch}}</ref><ref>{{cite news|url=http://articles.latimes.com/1986-06-07/entertainment/ca-10151_1 |title=Turner Sells The Studio, Holds On To The Dream – Los Angeles Times |publisher=Articles.latimes.com |date=1986-06-07 |accessdate=2011-12-15 |first=Morgan |last=Gendel}}</ref> Turner immediately sold MGM's United Artists subsidiary back to Kerkorian for roughly $480 million.<ref name="Bart" /><ref name="Turner" /> But unable to find financing for the rest of the deal, and due to concerns in the financial community over the debt-load of his companies, on August 26, 1986,
▲On August 7, 1985, [[Turner Broadcasting System]] offered to buy MGM/UA. As film licensing to television became more complicated, [[Ted Turner]] saw the value of acquiring MGM's film library for his superstation [[TBS (TV network)|WTBS]].<ref name = "lbm" /> On March 25 of the following year, the deal was finalized in a cash-stock deal for $1.5 billion,<ref name="Bart" /><ref name = "lbm" /><ref name="Turner">{{cite book|last1=Parsons|first1=Patrick R.|title=Skies: A History of Cable Television|date=2008|publisher=Temple University Press|location=Philadelphia|isbn=1-59213-287-1|edition=[Online-Ausg.]}}</ref><ref>{{cite book|last1=Stefoff|first1=Rebecca|title=Ted Turner, Television's Triumphant Tiger|date=1992|publisher=Garrett Educational Corp.|location=Ada, Okla.|isbn=1-56074-024-8}}</ref> and the company was renamed "MGM Entertainment Co.".<ref>{{cite news|url=http://pqasb.pqarchiver.com/chicagotribune/access/24900226.html?dids=24900226:24900226&FMT=ABS&FMTS=ABS:FT&type=current&date=May+07%2C+1986&author=Charles+Storch&pub=Chicago+Tribune+(pre-1997+Fulltext)&desc=TURNER+MAY+SELL+EQUITY+IN+COMPANY&pqatl=google |title=Chicago Tribune: Turner May Sell Equity In Company |publisher=Pqasb.pqarchiver.com |date=1986-05-07 |accessdate=2011-12-15 |first=Charles |last=Storch}}</ref><ref>{{cite news|url=http://articles.latimes.com/1986-06-07/entertainment/ca-10151_1 |title=Turner Sells The Studio, Holds On To The Dream – Los Angeles Times |publisher=Articles.latimes.com |date=1986-06-07 |accessdate=2011-12-15 |first=Morgan |last=Gendel}}</ref> Turner immediately sold MGM's United Artists subsidiary back to Kerkorian for roughly $480 million.<ref name="Bart" /><ref name="Turner" /> But unable to find financing for the rest of the deal, and due to concerns in the financial community over the debt-load of his companies, on August 26, 1986, Turner was forced to sell MGM's production and distribution assets to United Artists for $300 million.<ref name="Bart" /><ref name="Turner" /><ref name="Fabrikant">{{cite news|last=Fabrikant |first=Geraldine |url=http://www.nytimes.com/1986/06/07/business/turner-to-sell-mgm-assets.html |title=Turner To Sell Mgm Assets |publisher=NYTimes.com |date=1986-06-07 |accessdate=2014-08-06}}</ref><ref>{{cite news|url=http://articles.orlandosentinel.com/1986-08-27/business/0250090069_1_united-artists-turner-mgm |title=Turner, United Artists Close Deal |work=[[Orlando Sentinel]] |agency=[[United Press International|UPI]] |date=27 August 1986 |accessdate=2013-09-20}}</ref> The MGM lot and lab facilities were sold to [[Lorimar-Telepictures]].<ref name="Fabrikant" /> Turner kept the pre-1986 library of MGM films, along with the pre-1950 [[Warner Bros.]] and [[RKO Pictures]] films which MGM had previously purchased.<ref name="Fabrikant" />
How much of MGM's back catalog Turner actually obtained was a point of conflict for a time; eventually, it was determined that Turner owned all of the pre-May 1986 MGM library, as well as the pre-1950 Warner Bros. catalog,<ref name="ymrt">''You Must Remember This: The Warner Bros. Story'' (2008), p. 255.</ref><ref>WB retained a pair of features from 1949 that they merely distributed, and all short subjects released on or after September 1, 1948, in addition to all cartoons released in August 1948.</ref> the ''[[Popeye]]'' cartoons released by Paramount (both the pre-1950 WB library and Popeye cartoons were sold to [[Associated Artists Productions]], which was later bought by United Artists), the US/Canadian rights to the RKO library, and a good share of United Artists's own back list, in addition to MGM's television series and ''[[Gilligan's Island]]'', produced by UA.
▲After Kerkorian reclaimed MGM in August 1986, the MGM/UA name continued to be used, but the company changed its name to MGM/UA Communications Co., now using MGM and UA as separate brands.<ref>{{cite news|author=Special to the New York Times |url=http://www.nytimes.com/1986/10/29/business/a-president-for-mgm-ua.html |title=A President For MGM/UA – |publisher=Nytimes.com |date=1986-10-29 |accessdate=2011-12-15}}</ref>
In July 1988, Kerkorian announced plans to split MGM and UA into separate studios. Under this deal, Kerkorian, who owned 82% of MGM/UA Communications, would have sold 25% of MGM to [[Barris Industries]] (controlled by producers [[Burt Sugarman]], [[Jon Peters]], and [[Peter Guber]]).<ref>{{cite news| url=http://articles.latimes.com/1988-07-10/news/mn-9452_1_united-artists | work=Los Angeles Times | first=Michael | last=Cieply | title=MGM Movie Unit Expected to Be Sold in Complex Hollywood Deal | date=July 10, 1988}}</ref> The proposition to spin off MGM was called off a few weeks later.<ref>{{cite news| url=http://articles.latimes.com/1988-07-29/business/fi-7947_1_mgm-pictures | work=Los Angeles Times | first=Nina J. | last=Easton | title=Plan to Split MGM Pictures in 2 Falls Through; Future of Troubled Firm Clouded | date=July 29, 1988}}</ref> In 1989, Australian-based [[Qintex]] attempted to buy MGM from Kerkorian, but the deal collapsed.<ref>{{cite news|author=By RICHARD W. STEVENSON, Special to The New York Times |url=http://www.nytimes.com/1989/10/11/business/deal-to-buy-mgm-ua-collapses.html |title=Deal to Buy MGM/UA Collapses - New York Times |publisher=Nytimes.com |date=1989-10-11 |accessdate=2014-07-20}}</ref> On November 29, 1989, Turner (owners of the pre-1986 MGM library) attempted to buy Tracinda's entertainment assets such as MGM/UA Communications Co. but the deal failed.<ref>{{cite news|title=Turner Buying MGM/UA|url=http://www.nytimes.com/1989/11/29/business/the-media-business-turner-broadcasting-seen-in-talks-to-buy-mgm-ua.html|date=November 29, 1989|work=[[The New York Times]]|publisher=[[The New York Times Company]]|accessdate=2014-10-02}}</ref>
In 1990, Italian financier [[Giancarlo Parretti]] announced he was about to buy MGM/UA. Although the French government had scuttled Parretti's bid to buy [[Pathé]] due to concerns about his character, background, and past dealings, Parretti got backing from [[Crédit Lyonnais]] and bought MGM/UA from Kirk Kerkorian. To finance the purchase, Parretti licensed the MGM/UA library to [[Time Warner]] for home video and Turner for domestic television rights.<ref name = "lbm" /> He then merged it with his Pathé Communications Group (formerly Cannon Group, a distributor that Parretti had renamed before his aborted bid for Pathé) to form MGM–Pathe Communications Co. The well-respected executive, [[Alan Ladd, Jr.]], a former president of MGM/UA, was brought on board as CEO of MGM in 1991. However,
▲===[[MGM-Pathé Communications]]===
▲In 1990, Italian financier [[Giancarlo Parretti]] announced he was about to buy MGM/UA. Although the French government had scuttled Parretti's bid to buy [[Pathé]] due to concerns about his character, background, and past dealings, Parretti got backing from [[Crédit Lyonnais]] and bought MGM/UA from Kirk Kerkorian. To finance the purchase, Parretti licensed the MGM/UA library to [[Time Warner]] for home video and Turner for domestic television rights.<ref name = "lbm" /> He then merged it with his Pathé Communications Group (formerly Cannon Group, a distributor that Parretti had renamed before his aborted bid for Pathé) to form MGM–Pathe Communications Co. The well-respected executive, [[Alan Ladd, Jr.]], a former president of MGM/UA, was brought on board as CEO of MGM in 1991. However, a year later, Parretti's ownership of MGM–Pathé dissolved in a flurry of lawsuits and a default by Crédit Lyonnais, and Parretti faced [[security (finance)|securities]]-fraud charges in the United States and Europe. On the verge of bankruptcy and failure, Crédit Lyonnais took full control of MGM–Pathé and converted its name back to Metro-Goldwyn-Mayer. The bank fired Ladd and replaced him with former Paramount executive [[Frank Mancuso, Sr.]] and former Warner Bros. executive [[John Calley]] (as United Artists head). As part of his exit package, Ladd took some of the top properties, including ''[[Braveheart]]''.
In the late 1980s and early 1990s, ''[[Moonstruck]]'', ''[[A Fish Called Wanda]]'', ''[[A Dry White Season]]'', and ''[[Thelma & Louise]]'' were critical and commercial hits for MGM, which was increasingly rare at the time.
Because of the way it had acquired control of the company, Crédit Lyonnais soon put the studio up for sale, with the highest bidder being Kirk Kerkorian. Now the owner of MGM for the third time, Kerkorian's deal with Mancuso quickly angered John Calley, who quit United Artists and was named head of Sony Pictures Entertainment. By selling a portion of the studio to Australia's [[Seven Network]], Kerkorian was able to convince Wall Street that a revived MGM was worthy of a place on the stock market, where it languished until he sold the company to a group of hedge funds tied to Sony, which wanted to control the studio library to promote the [[Blu-ray Disc]] format.
On April 11, 1997, MGM bought [[Metromedia]]'s film subsidiaries ([[Orion Pictures]], [[The Samuel Goldwyn Company]], and the [[Motion Picture Corporation of America]]) for US$573 million, substantially enlarging its library of films and television series and acquiring additional production capacity.<ref name="Metromedia">{{cite news|url=http://www.nytimes.com/1997/04/29/business/metromedia-to-sell-film-units-to-mgm-for-573-million.html |title=Metromedia to Sell Film Units To MGM for $573 Million - New York Times |publisher=Nytimes.com |date=1997-04-29 |accessdate=2014-08-06}}</ref> The deal closed in July of that year.<ref>"Years of Hits, Misses Comes to Close." ''[[Daily News of Los Angeles]].'' July 10, 1997; Bates, James. "MGM Lays Off 85 in Metromedia Film, TV Units." ''Los Angeles Times.'' July 11, 1997.</ref> This catalog, along with the [[James Bond (film series)|James Bond]] franchise, was considered to be MGM's primary asset.<ref>{{cite web|url=http://articles.latimes.com/1999/mar/30/business/fi-22412 |title=Deal Cements MGM's Bond to 007 Franchise - Los Angeles Times |publisher=Articles.latimes.com |date=1999-03-30 |accessdate=2014-07-20}}</ref><ref>{{cite news|author=By ANDREW ROSS SORKIN and GERALDINE FABRIKANT; Laura H. Holson contributed reporting to this article. |url=http://www.nytimes.com/2004/04/22/business/sony-group-said-to-be-in-talks-to-buy-mgm.html |title=Sony Group Said to Be in Talks to Buy MGM - New York Times |publisher=Nytimes.com |date=2004-04-22 |accessdate=2014-07-20}}</ref> In the same year, MGM's long-running cable television series, ''[[Stargate SG-1]]'', first aired.<ref>Shales, Tom. "On a Remote Planet . . . Click: Showtime's Sluggish 'Stargate SG-1'." ''[[The Washington Post]].'' July 26, 1997; Spelling, Ian. "Anderson Leaps Into 'Stargate'." ''[[Chicago Tribune]].'' July 24, 1997; Parks, Steve. "'Stargate's' Wormholes Might Hook You." ''[[Newsday]].'' July 27, 1997.</ref> Kerkorian bought out Seven Network the following year.<ref>{{cite news|url=http://www.nytimes.com/1998/08/20/business/company-news-kerkorian-to-increase-stake-in-m-g-m.html |title=Company News; Kerkorian To Increase Stake In M-G-M - New York Times |publisher=Nytimes.com |date=1998-08-20 |accessdate=2014-07-20}}</ref>
In December 1997, MGM attempted to purchase 1,000 films held by [[Consortium de Réalisation]], but was outbid by [[PolyGram]].<ref>{{cite news| url=http://articles.latimes.com/1997/dec/23/business/fi-1359 | work=Los Angeles Times | title=MGM Says It Was Outbid for Film Library | date=December 23, 1997}}</ref> However, they ultimately succeeded when they acquired the
In 2000, MGM changed the way it distributed its products internationally. MGM had until that time distributed its films internationally through [[United International Pictures]] (UIP), a joint venture of MGM, Universal Pictures, DreamWorks Pictures and Paramount Pictures. UIP was accused by the [[European Union]] of being an illegal [[cartel]],<ref>{{cite news|last=Willcock |first=John |url=http://www.independent.co.uk/news/business/people--business-movie-moves-1072937.html |title=People & Business: Movie moves - Business - News |publisher=The Independent |date=1999-02-24 |accessdate=2014-07-20}}</ref> and effective November 2000 MGM severed its ties with UIP and distributed films internationally through [[20th Century Fox]].<ref>{{cite web|url=http://online.wsj.com/article/SB930006963691596498.html?mod=googlewsj |title=Fox Enters Deal With MGM On International Distribution - WSJ |publisher=Online.wsj.com |date=1999-06-22 |accessdate=2014-07-20}}</ref>
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MGM purchased 20% of [[Cablevision|Cablevision Systems]] for $825 million in 2001.<ref>{{cite news|url=http://www.nytimes.com/2001/02/02/business/company-news-mgm-agrees-to-buy-stake-in-4-cable-channels.html |title=COMPANY NEWS; MGM AGREES TO BUY STAKE IN 4 CABLE CHANNELS - New York Times |publisher=Nytimes.com |date=2001-02-02 |accessdate=2014-07-20}}</ref> MGM attempted to take over [[Universal Studios]] in 2003, but failed, and was forced to sell several of its cable channel investments (taking a $75-million loss on the deal).<ref>{{cite news|author=By Andrew Ross Sorkin And Geraldine Fabrikant |url=http://www.nytimes.com/2003/07/30/business/the-media-business-mgm-withdraws-bid-for-vivendi-entertainment-units.html |title=THE MEDIA BUSINESS; MGM Withdraws Bid for Vivendi Entertainment Units - New York Times |publisher=Nytimes.com |date=2003-07-30 |accessdate=2014-07-20}}</ref><ref>{{cite news|author=By Geraldine Fabrikant |url=http://www.nytimes.com/2003/07/01/business/mgm-to-sell-its-stake-in-three-cable-channels.html |title=MGM to Sell Its Stake in Three Cable Channels - New York Times |publisher=Nytimes.com |date=2003-07-01 |accessdate=2014-07-20}}</ref>
▲===MGM Holdings===
In 2005, many of MGM's competitors started to make bids to purchase the studio, beginning with [[Time Warner]]. It was not unexpected that Time Warner would bid, since the largest shareholder in the company was Ted Turner. His [[Turner Entertainment]] Group had risen to success in part through its ownership of the pre-May 1986 MGM library. After a short period of negotiation with MGM, Time Warner was unsuccessful. The leading bidder proved to be [[Sony Corporation of America]], backed by Comcast and private equity firms [[Texas Pacific Group]] (now TPG Capital, L.P.), DLJ and [[Providence Equity Partners]]. Sony's primary goal was to ensure Blu-ray Disc support at MGM; cost synergies with [[Sony Pictures Entertainment]] were secondary. Time Warner made a counter-bid (which Ted Turner reportedly tried to block), but on September 13, 2004, Sony increased its bid of US$11.25/share (roughly $4.7 billion) to $12/share ($5 billion), and Time Warner subsequently withdrew its bid of $11/share ($4.5 billion). MGM and Sony agreed on a purchase price of nearly $5 billion, of which about $2 billion was to pay off MGM debt.<ref>{{cite news|url=http://money.cnn.com/2004/09/13/news/fortune500/twx_mgm/?cnn=yes |title=Sony will purchase MGM in a deal worth about $5B: source - Sep. 14, 2004 |publisher=Money.cnn.com |date=2004-09-14 |accessdate=2011-12-15}}</ref><ref>[http://www.reuters.co.uk/newsPackageArticle.jhtml?type=businessNews&storyID=582625§ion=finance ]{{Dead link|date=December 2011}}</ref> From 2005 to 2006, the [[Columbia TriStar Motion Picture Group]] domestically distributed films by MGM and UA.
MGM announced it would return as a theatrical distribution company. MGM negotiated and struck deals with [[The Weinstein Company]], [[Lakeshore Entertainment]], Bauer Martinez, and many other independent studios, and then announced its plans to release 14 feature films for 2006 and early 2007. MGM also hoped to increase the amount to over 20 by 2007. ''[[Lucky Number Slevin]]'', released April 7, was the first film released under the new MGM era. Other recent films under the MGM/Weinstein deal include ''[[Clerks II]]'' and ''[[Bobby (2006 film)|Bobby]]''. Upon the MGM/Weinstein films' release on home video, however, full distribution rights revert to Weinstein (under [[Genius Products]]).
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MGM also announced plans to restructure its worldwide television distribution operation.<ref>{{cite web|url=http://www.mgm.com/corp_news_releases.do?id=491|title=MGM Expands Worldwide Television Distribution Group|accessdate=October 24, 2006}}</ref> In addition, MGM signed a deal with [[New Line Television]] in which MGM would handle New Line's U.S. film and series television syndication packages. MGM served as New Line's barter sales representative in the television arena until 2008.<ref>{{cite web|url=http://www.mgm.com/corp_news_releases.do?id=500|title=MGM To Handle U.S. Syndication Sales For New Line Television|accessdate=December 16, 2006}}</ref>
On November 2, 2006, producer/actor [[Tom Cruise]] and his production partner, [[Paula Wagner]], signed an agreement with MGM to run
Over the next several years, MGM launched a number of initiatives in distribution and the use of new technology and media, as well as joint ventures to promote and sell its products. In April 2007, it was announced that MGM movies would be able to be downloaded through Apple's [[iTunes]] service, with MGM bringing an estimated 100 of its existing movies to iTunes service, the California-based computer company revealed. The list of movies included the likes of modern features such as ''[[Rocky]]'', ''[[Ronin (film)|Ronin]]'', ''[[Mad Max]]'', and ''[[Dances with Wolves]]'', along with more golden-era classics such as ''[[Lilies of the Field (1963 film)|Lilies of the Field]]'' and ''[[The First Great Train Robbery|The Great Train Robbery]]''.<ref>{{cite web|url=http://tech.monstersandcritics.com/news/article_1290495.php/MGM_brings_classic_movies_to_iTunes |title=MGM brings classic movies to iTunes - Monsters and Critics |publisher=Tech.monstersandcritics.com |date=2007-04-12 |accessdate=2014-07-20}}</ref> In October, the company launched [[MGM HD]] on [[DirecTV]], offering a library of movies formatted in Hi Def.<ref>{{cite web|url=http://www.variety.com/article/VR1118012749.html?categoryid=14&cs=1 |title=MGM bows first U.K. web |publisher=Variety |date=2009-12-14 |accessdate=2014-07-20}}</ref> Also in 2006, MGM licensed its home video distribution rights for countries outside of the United States to [[20th Century Fox]]. MGM teamed up with [[Weigel Broadcasting]] to launch a new channel titled [[This TV]] on November 1, 2008.<ref>{{cite web|url=http://www.chicagotribune.com/business/chi-080728mgm-weigel,0,4506974.story |title=Topic Galleries |publisher=chicagotribune.com |date= |accessdate=2014-07-20}}{{Dead link|date=August 2014}}</ref><ref>[http://www.broadcastingcable.com/article/CA6608561.html ]{{Dead link|date=July 2014}}</ref> On August 12, 2008, MGM teamed up with [[Comcast]] to launch a new video-on-demand network titled '''Impact'''.<ref>{{cite web|url=http://www.comcast.com/About/PressRelease/PressReleaseDetail.ashx?PRID=791 |title=News + Information |publisher=Comcast.com |date= |accessdate=2014-07-20}}</ref> On November 10, 2008, MGM announced that it will release full-length films on ''[[YouTube]]''.<ref>{{cite web|last=Cheng |first=Jacqui |url=http://arstechnica.com/news.ars/post/20081110-mgm-will-be-first-major-studio-to-put-full-movies-on-youtube.html |title=MGM will be first major studio to put full movies on YouTube |publisher=Ars Technica |date=2008-11-10 |accessdate=2014-07-20}}</ref>
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On August 17, 2009, chief executive officer [[Harry E. Sloan]] stepped down and MGM hired Stephen F. Cooper as its new CEO,<ref name="businessweek.com"/><ref>{{cite web|last=Sandler |first=Linda |url=http://www.bloomberg.com/news/2010-11-03/metro-goldwyn-mayer-files-bankruptcy-after-rejecting-lions-gate-takeover.html |title=MGM Studios Files Bankruptcy, Rejecting Icahn Bid |publisher=Bloomberg |date=2010-11-03 |accessdate=2014-07-20}}</ref><ref>{{cite web|url=http://www.pbn.com/MGM-files-for-bankruptcy-rejecting-Lions-Gate-Icahn-bid-Prov-Equity-flagged-as-a-loser,53554 |title=MGM files for bankruptcy, rejects bid; Providence Equity flagged as a ‘loser’ - Providence Business News |publisher=Pbn.com |date= |accessdate=2014-07-20}}</ref> a corporate executive who guided [[Enron]] through its post-2001 bankruptcy and oversaw the restructuring and growth of [[Krispy Kreme]] in 2005.<ref name="NYTimesReplaces" /><ref name="Sloan">[http://www.hollywoodreporter.com/hr/content_display/news/e3i85f38c299a3a459ae116be2bc790fa61 DiOrio, Carl. "Harry Sloan Out as CEO of MGM."]{{Dead link|date=August 2014}} ''The Hollywood Reporter.'' August 18, 2009</ref><ref>{{cite web|url=http://www.variety.com/article/VR1118007405.html?categoryid=30&cs=1 |title=Harry Sloan out at MGM as CEO |publisher=Variety |date=2009-08-18 |accessdate=2014-08-06}}</ref> Expectations were that Cooper was hired to act quickly on MGM's debt problems.<ref name="NYTimesReplaces" /><ref name="Sloan" /> On October 1, 2009, the studio's new leadership negotiated a [[forbearance]] agreement with its creditors under which interest payments due from September to November 2009 did not have to be paid until December 15, 2009.<ref>{{cite web|author=|url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2009/10/mgm-gets-a-little-breathing-room-on-its-interest-payments.html |title=MGM gets a little breathing room on its interest payments | Company Town | Los Angeles Times |publisher=Latimesblogs.latimes.com |date=2009-10-01 |accessdate=2014-07-20}}</ref>
MGM stated in February 2010 that the studio would likely be sold in the next four months, and that its latest film, ''[[Hot Tub Time Machine]]'', might be one of the last four films to bear the MGM name. However, some stated that the company might continue as a label for new James Bond productions, as well as other movie properties culled from the MGM library.<ref>{{cite news|url=http://www.latimes.com/entertainment/news/la-et-mgm26-2010feb26,0,7597644.story|title=As MGM mulls its future, the show goes on|last=Eller|first=Claudia|work=Los Angeles Times|date= February 26, 2010|accessdate=February 26, 2010}}</ref><ref>{{cite news|author=Bloomberg |url=http://www.nypost.com/p/news/business/new_mgm_bid_deadline_s5HWClKd5p4rDY9DQdTXqI |title=MGM asks potential buyers to submit bids by mid-March – |publisher=Nypost.com |date=2010-02-26 |accessdate=2011-12-15}}</ref>▼
On December 20, 2010, MGM executives announced that the studio had emerged from bankruptcy. [[Spyglass Entertainment]] executives [[Gary Barber]] and [[Roger Birnbaum]] became co-Chairs and co-CEOs of the studio.<ref>{{cite web|last=Agard |first=Chancellor |url=http://news-briefs.ew.com/2010/12/20/mgm-out-of-bankruptcy |title=MGM out of bankruptcy | News Briefs | EW.com |publisher=News-briefs.ew.com |date=2010-12-20 |accessdate=2014-07-20}}</ref><ref>{{cite web|url=http://www.variety.com/article/VR1118029320 |title=MGM restructuring becomes official |publisher=Variety |date=2010-12-20 |accessdate=2014-07-20}}</ref> After MGM emerged from bankruptcy, on December 23, 2010, MGM named Ann Mather, the ex-Pixar CFO, to head MGM's new board of directors.<ref name="Deadline 2010-12-23">{{cite web|last=Fleming |first=Mike |url=http://www.deadline.com/2010/12/mgm-sets-ex-pixar-cfo-ann-mather-to-head-new-board-of-directors/ |title=MGM Sets Ex-Pixar CFO Ann Mather To Head New Board of Directors |publisher=Deadline.com |date=2010-12-23 |accessdate=2014-08-06}}</ref> On December 29, 2010, MGM signed a new lease with New York–based group George Comfort & Sons for a six-story building in the corner of 235–269 N. Beverly Drive that was intended to be the new headquarters for William Morris Agency. MGM will be leaving its old headquarters in Century City.<ref name="Deadline 2010-12-29">{{cite web|author=Nikki Finke |url=http://www.deadline.com/2010/12/official-mgm-moving-into-office-building-once-intended-for-old-william-morris-agency/ |title=Official: MGM Moving Into Office Building Once Intended For William Morris Agency |publisher=Deadline.com |date=2010-12-29 |accessdate=2014-08-06}}</ref>▼
▲MGM stated in February 2010 that the studio would likely be sold in the next four months, and that its latest film, ''[[Hot Tub Time Machine]]'', might be one of the last four films to bear the MGM name. However, some stated that the company might continue as a label for new James Bond productions, as well as other movie properties culled from the MGM library.<ref>{{cite news|url=http://www.latimes.com/entertainment/news/la-et-mgm26-2010feb26,0,7597644.story|title=As MGM mulls its future, the show goes on|last=Eller|first=Claudia|work=Los Angeles Times|date= February 26, 2010|accessdate=February 26, 2010}}</ref><ref>{{cite news|author=Bloomberg |url=http://www.nypost.com/p/news/business/new_mgm_bid_deadline_s5HWClKd5p4rDY9DQdTXqI |title=MGM asks potential buyers to submit bids by mid-March – |publisher=Nypost.com |date=2010-02-26 |accessdate=2011-12-15}}</ref>
▲On December 20, 2010, MGM executives announced that the studio had emerged from bankruptcy
On January 4, 2011, MGM and Weigel Broadcasting announced plans to distribute [[Me-TV]] nationwide.<ref>{{cite web|last=Albiniak |first=Paige |url=http://www.broadcastingcable.com/article/461770-MGM_Weigel_Taking_Me_TV_Nationwide.php |title=MGM, Weigel Taking Me-TV Nationwide | Broadcasting & Cable |publisher=Broadcastingcable.com |date=2011-01-04 |accessdate=2014-07-20}}</ref><ref>{{cite web|author=|url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/01/mgm-creating-classic-tv-channel-to-roar-like-the-fonz-.html |title=MGM launches classic TV service to roar like the Fonz | Company Town | Los Angeles Times |publisher=Latimesblogs.latimes.com |date=2011-01-04 |accessdate=2014-07-20}}</ref> On February 2, 2011, MGM named [[Jonathan Glickman]] to be the film president of MGM. Six days later, MGM was finalizing a distribution deal with Sony Pictures Entertainment to handle distribution of its 4,000 films and DVDs worldwide and on digital platforms, including the two upcoming Bond films: ''[[Skyfall]]'' and ''Bond 24''. There were four studios who were bidding on the Bond distribution rights: [[Paramount Pictures]], Warner Bros. Pictures, 20th Century Fox, and Columbia Pictures. Paramount was the first studio who dropped out of the Bond bidding. The deal was finalized on April 13, 2011. Post-bankruptcy, MGM also co-financed SPE's ''[[The Girl with the Dragon Tattoo (2011 film)|The Girl with the Dragon Tattoo]]''. 20th Century Fox's deal with MGM handling its library distribution worldwide was set to expire in September 2011.<ref name="Deadline 2011-2-8">{{cite web|author=Nikki Finke |url=http://www.deadline.com/2011/02/sony-about-to-recapture-james-bond-23-mgm-leverages-007-for-co-finance-deal/ |title=Sony About To Recapture James Bond #23; UPDATE: MGM Leverages 007 For Deal On Sony's 'The Girl With The Dragon Tattoo' |publisher=Deadline.com |date= |accessdate=2014-08-06}}</ref><ref name="L.A. Times 2011-2-8">{{cite web|author=Ben Fritz |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/02/sony-mgm-distribution-bond.html |title=Sony finalizing distribution and co-financing deal with MGM, including next two 'Bond' films | Company Town | Los Angeles Times |publisher=Latimesblogs.latimes.com |date=2011-02-08 |accessdate=2014-08-06}}</ref> However, the deal was renewed and extended on April 14, 2011 and will expire in 2016.<ref name="Deadline 2011-4-13">{{cite web|author=Nikki Finke |url=http://www.deadline.com/2011/04/toldja-mgm-makes-distribution-deal-with-sony-pictures-that-includes-james-bond/ |title=TOLDJA! MGM Makes Distribution Deal With Sony Pictures That Includes James Bond |publisher=Deadline.com |date= |accessdate=2014-08-06}}</ref><ref name="Deadline 2011-4-14">{{cite web|last=Fleming |first=Mike |url=http://www.deadline.com/2011/04/mgm-re-ups-dvd-deal-with-fox-through-2016/ |title=MGM Re-Ups DVD Deal With Fox Through 2016 |publisher=Deadline.com |date= |accessdate=2014-08-06}}</ref>
MGM
The new MGM, under Barber and Birnbaum's control,
In separate 2011 deals, the rights to MGM's completed films ''[[Red Dawn (2012 film)|Red Dawn]]'' and ''[[The Cabin in the Woods]]'' were handed to [[FilmDistrict]] as well as [[Lionsgate Films]], respectively.<ref>{{cite web|author=|url=http://latimesblogs.latimes.com/movies/2011/09/red-dawn-remake-to-come-out-next-year-from-filmdistrict.html |title='Red Dawn' remake to come out next year from FilmDistrict - latimes.com |publisher=Latimesblogs.latimes.com |date=2011-09-26 |accessdate=2014-07-20}}</ref>
On July 31, 2012, MGM announced it would acquire Carl Icahn's stake in MGM Holdings for $590 million. Once the sale is complete, MGM will become a public company.<ref>{{cite web|url=http://www.bizjournals.com/losangeles/news/2012/08/01/icahn-sells-mgm-stake-for-590-million.html?ana=yfcpc |title=Icahn sells MGM stake for $590 million - L.A. Biz |publisher=Bizjournals.com |date=2012-08-01 |accessdate=2014-08-06}}</ref> Also on July 31, MGM sold [[MGM Networks]], Inc. to [[Chellomedia]], while retaining its US, Canada, UK, Germany, and joint ventures in Brazil and Australia, to raise fund to buy out [[Carl Icahn]] and prepare for an IPO.<ref>{{cite web|last=Deadline |first=The |url=http://www.deadline.com/2012/08/chellomedia-acquires-mgm-networks/ |title=UPDATE: MGM Networks Sale To Chellomedia To Fund BuyBack of Icahn Shares: LAT |publisher=Deadline.com |date=2012-08-01 |accessdate=2014-08-06}}</ref><ref>{{cite web|author=Ben Fritz |url=http://articles.latimes.com/2012/aug/01/entertainment/la-et-ct-mgm-channel-sale-20120801 |title=MGM sells overseas channels amid Icahn buyback, IPO preparation - Los Angeles Times |publisher=Articles.latimes.com |date=2012-08-01 |accessdate=2014-08-06}}</ref>
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On October 3, 2012, Birnbaum announced his intention to exit his role as an MGM executive and return to "hands-on" producing. He will remain with the studio to produce films on "an exclusive basis".<ref>{{cite web|author=Nikki Finke |url=http://www.deadline.com/2012/10/mgm-co-chairman-ceo-roger-birnbaum-steps-down-will-become-producer-gary-barber-to-become-sole-chairman-ceo/ |title=MGM's Roger Birnbaum Steps Down To Return To Producing; Gary Barber Now Revived Studio's Sole Chairman & CEO |publisher=Deadline.com |date=2012-10-03 |accessdate=2014-08-06}}</ref>
In
▲In May 2014, MGM introduced [[The Works (TV network)|The Works]], a channel available in 31 percent of the country, including stations owned by [[Titan Broadcast Management]]. Content includes news, MGM movies, sports and comedy.<ref>{{cite news|url=http://www.broadcastingcable.com/news/local-tv/exclusive-mgm-launches-digi-net-works/130865|title=Exclusive: MGM Launches Digi-Net The Works|last=Malone|first=Michael|work=[[Broadcasting & Cable]]|date=May 2, 2014|accessdate=May 15, 1014}}</ref> In September 2014, MGM acquired a 55% interest in One Three Media and [[Lightworkers Media]], both operated by Hollywood producers [[Mark Burnett]] and [[Roma Downey]]. The two companies, along with UA, will be consolidated into a new film and television company known as [[United Artists]] Media Group.<ref>{{cite news|last1=Fleming|first1=Mike Jr|last2=Busch|first2=Anita|title=MGM Buys 55% Of Roma Downey And Mark Burnett’s Empire; Relaunches United Artists|url=http://deadline.com/2014/09/mgm-roma-downey-and-mark-burnetts-united-artists-838595/|accessdate=4 November 2014|work=Deadline|publisher=Penske Business Media|date=September 22, 2014}}</ref>
==Headquarters==
Since August 22, 2011, its headquarters have been in [[Beverly Hills, California]].<ref name="MGMMoving">"[http://www.mgm.com/assets/pdfs/tmp/tmp7ebfb35abe6bb1ec72401af887c912fb/report_pdfQ2.pdf MGM HOLDINGS INC. For the quarterly period ended June 30, 2011]{{Dead link|date=August 2014}}." ([http://www.webcitation.org/65Deu5YSe Archive]) Metro-Goldwyn-Mayer Inc. Retrieved on February 6, 2012. "10250 Constellation Boulevard Los Angeles, California 90067 (Address of corporate headquarters through August 19, 2011)" and "245 North Beverly Drive Beverly Hills, California 90210 (Address of corporate headquarters beginning August 22, 2011)"</ref> MGM rents space in a six-story office building. The {{convert|144000|sqft|sqm|adj=on}} facility was originally constructed for the venerable [[William Morris Agency|William Morris]] [[talent agency]], but had remained all but unoccupied until MGM's move because of the agency's merger with [[Endeavor Talent Agency]] in April 2009. MGM planned to house a private theater and a private outdoor patio in the building.<ref name="VincentEller">{{cite web|url=http://articles.latimes.com/2010/dec/30/business/la-fi-mgm-20101230 |title=MGM to move from luxurious Century City offices - Los Angeles Times |publisher=Articles.latimes.com |date=1993-08-08 |accessdate=2014-08-06}}</ref>
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