Metro-Goldwyn-Mayer - Revision history

Adminpeter at 18:56, 30 May 2022

2022-05-30T18:56:32Z

Adminpeter: /* Overview */

2022-05-30T18:49:26Z

Overview

← Older revision		Revision as of 14:49, 30 May 2022
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	==Overview==		==Overview==
	MGM was the last studio to convert to sound pictures, but in spite of this fact, from the end of the [[silent film\|silent film era]] through the late 1950s, Metro-Goldwyn-Mayer was the dominant motion picture studio in Hollywood. Always slow to respond to the changing legal, economic, and demographic nature of the motion picture industry during the 1950s and 1960s, and although at times its films did well at the box office, the studio lost significant amounts of money throughout the 1960s. In 1966, MGM was sold to Canadian investor [[Edgar Bronfman Sr.]], whose son [[Edgar Bronfman Jr.\|Edgar Jr.]] would later buy [[Universal Studios]].~~{{Citation needed\|date=August 2014}}~~ Three years later, an increasingly unprofitable MGM was bought by [[Kirk Kerkorian]], who slashed staff and production costs, forced the studio to produce low-quality, low-budget fare, and then ceased theatrical distribution in 1973. The studio continued to produce five to six films a year that were distributed through other studios, usually [[United Artists]]. Kerkorian did, however, commit to increased production and an expanded film library when he bought [[United Artists]] in 1981.~~{{Citation needed\|date=August 2014}}~~		MGM was the last studio to convert to sound pictures, but in spite of this fact, from the end of the [[silent film\|silent film era]] through the late 1950s, Metro-Goldwyn-Mayer was the dominant motion picture studio in Hollywood. Always slow to respond to the changing legal, economic, and demographic nature of the motion picture industry during the 1950s and 1960s, and although at times its films did well at the box office, the studio lost significant amounts of money throughout the 1960s. In 1966, MGM was sold to Canadian investor [[Edgar Bronfman Sr.]], whose son [[Edgar Bronfman Jr.\|Edgar Jr.]] would later buy [[Universal Studios]]. Three years later, an increasingly unprofitable MGM was bought by [[Kirk Kerkorian]], who slashed staff and production costs, forced the studio to produce low-quality, low-budget fare, and then ceased theatrical distribution in 1973. The studio continued to produce five to six films a year that were distributed through other studios, usually [[United Artists]]. Kerkorian did, however, commit to increased production and an expanded film library when he bought [[United Artists]] in 1981.

	MGM ramped up internal production, as well as keeping production going at UA, which included the lucrative [[James Bond (film series)\|James Bond]] film franchise. It also incurred significant amounts of debt to increase production. The studio took on additional debt as a series of owners took charge in the 1980s and early 1990s. In 1986, [[Ted Turner]] bought MGM, but a few months later, sold the company back to Kerkorian to recoup massive debt, while keeping the library assets for himself. The series of deals left MGM even more heavily in debt. MGM was bought by Pathé Communications (led by Italian publishing magnate [[Giancarlo Parretti]]) in 1990, but Parretti lost control of Pathé and defaulted on the loans used to purchase the studio. The French banking conglomerate Crédit Lyonnais, the studio's major creditor, then took control of MGM. Even more deeply in debt, MGM was purchased by a joint venture between Kerkorian, producer [[Frank Mancuso Sr.\|Frank Mancuso]], and Australia's [[Seven Network]] in 1996.		MGM ramped up internal production, as well as keeping production going at UA, which included the lucrative [[James Bond (film series)\|James Bond]] film franchise. It also incurred significant amounts of debt to increase production. The studio took on additional debt as a series of owners took charge in the 1980s and early 1990s. In 1986, [[Ted Turner]] bought MGM, but a few months later, sold the company back to Kerkorian to recoup massive debt, while keeping the library assets for himself. The series of deals left MGM even more heavily in debt. MGM was bought by Pathé Communications (led by Italian publishing magnate [[Giancarlo Parretti]]) in 1990, but Parretti lost control of Pathé and defaulted on the loans used to purchase the studio. The French banking conglomerate Crédit Lyonnais, the studio's major creditor, then took control of MGM. Even more deeply in debt, MGM was purchased by a joint venture between Kerkorian, producer [[Frank Mancuso Sr.\|Frank Mancuso]], and Australia's [[Seven Network]] in 1996.

Adminpeter: /* Overview */

2022-05-30T18:47:40Z

Overview

← Older revision		Revision as of 14:47, 30 May 2022
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	==Overview==		==Overview==
	MGM was the last studio to convert to sound pictures, but in spite of this fact, from the end of the [[silent film\|silent film era]] through the late 1950s, Metro-Goldwyn-Mayer was the dominant motion picture studio in Hollywood.~~{{Page needed\|date=February 2017}}{{Page needed\|date=February 2017}}~~ Always slow to respond to the changing legal, economic, and demographic nature of the motion picture industry during the 1950s and 1960s,~~{{Page needed\|date=February 2017}}{{Page needed\|date=February 2017}}{{Page needed\|date=February 2017}}~~ and although at times its films did well at the box office, the studio lost significant amounts of money throughout the 1960s. In 1966, MGM was sold to Canadian investor [[Edgar Bronfman Sr.]], whose son [[Edgar Bronfman Jr.\|Edgar Jr.]] would later buy [[Universal Studios]].{{Citation needed\|date=August 2014}} Three years later, an increasingly unprofitable MGM was bought by [[Kirk Kerkorian]], who slashed staff and production costs, forced the studio to produce low-quality, low-budget fare, and then ceased theatrical distribution in 1973. The studio continued to produce five to six films a year that were distributed through other studios, usually [[United Artists]]. Kerkorian did, however, commit to increased production and an expanded film library when he bought [[United Artists]] in 1981.{{Citation needed\|date=August 2014}}		MGM was the last studio to convert to sound pictures, but in spite of this fact, from the end of the [[silent film\|silent film era]] through the late 1950s, Metro-Goldwyn-Mayer was the dominant motion picture studio in Hollywood. Always slow to respond to the changing legal, economic, and demographic nature of the motion picture industry during the 1950s and 1960s, and although at times its films did well at the box office, the studio lost significant amounts of money throughout the 1960s. In 1966, MGM was sold to Canadian investor [[Edgar Bronfman Sr.]], whose son [[Edgar Bronfman Jr.\|Edgar Jr.]] would later buy [[Universal Studios]].{{Citation needed\|date=August 2014}} Three years later, an increasingly unprofitable MGM was bought by [[Kirk Kerkorian]], who slashed staff and production costs, forced the studio to produce low-quality, low-budget fare, and then ceased theatrical distribution in 1973. The studio continued to produce five to six films a year that were distributed through other studios, usually [[United Artists]]. Kerkorian did, however, commit to increased production and an expanded film library when he bought [[United Artists]] in 1981.{{Citation needed\|date=August 2014}}

	MGM ramped up internal production, as well as keeping production going at UA, which included the lucrative [[James Bond (film series)\|James Bond]] film franchise.~~{{Page needed\|date=February 2017}}~~ It also incurred significant amounts of debt to increase production.~~{{Page needed\|date=February 2017}}~~ The studio took on additional debt as a series of owners took charge in the 1980s and early 1990s. In 1986, [[Ted Turner]] bought MGM, but a few months later, sold the company back to Kerkorian to recoup massive debt, while keeping the library assets for himself. The series of deals left MGM even more heavily in debt. MGM was bought by Pathé Communications (led by Italian publishing magnate [[Giancarlo Parretti]]) in 1990, but Parretti lost control of Pathé and defaulted on the loans used to purchase the studio. The French banking conglomerate Crédit Lyonnais, the studio's major creditor, then took control of MGM. Even more deeply in debt, MGM was purchased by a joint venture between Kerkorian, producer [[Frank Mancuso Sr.\|Frank Mancuso]], and Australia's [[Seven Network]] in 1996.		MGM ramped up internal production, as well as keeping production going at UA, which included the lucrative [[James Bond (film series)\|James Bond]] film franchise. It also incurred significant amounts of debt to increase production. The studio took on additional debt as a series of owners took charge in the 1980s and early 1990s. In 1986, [[Ted Turner]] bought MGM, but a few months later, sold the company back to Kerkorian to recoup massive debt, while keeping the library assets for himself. The series of deals left MGM even more heavily in debt. MGM was bought by Pathé Communications (led by Italian publishing magnate [[Giancarlo Parretti]]) in 1990, but Parretti lost control of Pathé and defaulted on the loans used to purchase the studio. The French banking conglomerate Crédit Lyonnais, the studio's major creditor, then took control of MGM. Even more deeply in debt, MGM was purchased by a joint venture between Kerkorian, producer [[Frank Mancuso Sr.\|Frank Mancuso]], and Australia's [[Seven Network]] in 1996.

	The debt load from these and subsequent business deals negatively affected MGM's ability to survive as a separate motion picture studio. After a bidding war which included [[Time Warner]] (the current parent of Turner Broadcasting) and General Electric (the owners of the [[NBC]] television network at the time), MGM was acquired on September 23, 2004, by a partnership consisting of Sony Corporation of America, Comcast, TPG Capital\|Texas Pacific Group (now TPG Capital, L.P.), Providence Equity Partners, and other investors.		The debt load from these and subsequent business deals negatively affected MGM's ability to survive as a separate motion picture studio. After a bidding war which included [[Time Warner]] (the current parent of Turner Broadcasting) and General Electric (the owners of the [[NBC]] television network at the time), MGM was acquired on September 23, 2004, by a partnership consisting of Sony Corporation of America, Comcast, TPG Capital\|Texas Pacific Group (now TPG Capital, L.P.), Providence Equity Partners, and other investors.

Adminpeter at 18:45, 30 May 2022

2022-05-30T18:45:42Z

← Older revision		Revision as of 14:45, 30 May 2022
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	\| name = Metro-Goldwyn-Mayer Studios Inc.		\| name = Metro-Goldwyn-Mayer Studios Inc.
	\| logo = Metro-Goldwyn-Mayer logo.png		\| logo = Metro-Goldwyn-Mayer logo.png
	\| type = [[Subsidiary]]		\| type = Subsidiary
	\| industry = Film		\| industry = Film
	\| predecessors = {{ubl\|[[Metro Pictures\|Metro Pictures Corporation]]\|[[Goldwyn Pictures]]\|[[Louis B. Mayer Pictures]]}}		\| predecessors = {{ubl\|[[Metro Pictures\|Metro Pictures Corporation]]\|[[Goldwyn Pictures]]\|[[Louis B. Mayer Pictures]]}}
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	\| hq_location_city = Beverly Hills, California		\| hq_location_city = Beverly Hills, California
	\| hq_location_country = United States		\| hq_location_country = United States
	\| key_people = Chris Brearton (~~[[chief operating officer\|~~COO]])		\| key_people = Chris Brearton (COO)
	\| products = {{ubl\|Motion pictures\|Television programs}}		\| products = {{ubl\|Motion pictures\|Television programs}}
	\| owner = [[Amazon ~~(company)\|Amazon]]~~		\| owner = Amazon
	\| parent = [[MGM Holdings]]		\| parent = MGM Holdings
	\| divisions = {{ubl\|[[MGM Home Entertainment]]\|[[MGM Interactive]]\|[[MGM TV & Digital Group]]}}		\| divisions = {{ubl\|[[MGM Home Entertainment]]\|[[MGM Interactive]]\|[[MGM TV & Digital Group]]}}
	\| subsid = {{ubl\|[[American International Pictures]]\|[[Orion Pictures\|Orion Pictures Corporation]]\|[[United Artists\|United Artists Corporation]]\|[[United Artists Releasing]] (50%)\|[[Epix\|Epix Entertainment LLC]]}}		\| subsid = {{ubl\|[[American International Pictures]]\|[[Orion Pictures\|Orion Pictures Corporation]]\|[[United Artists\|United Artists Corporation]]\|[[United Artists Releasing]] (50%)\|[[Epix\|Epix Entertainment LLC]]}}
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	MGM was the last studio to convert to sound pictures, but in spite of this fact, from the end of the [[silent film\|silent film era]] through the late 1950s, Metro-Goldwyn-Mayer was the dominant motion picture studio in Hollywood.{{Page needed\|date=February 2017}}{{Page needed\|date=February 2017}} Always slow to respond to the changing legal, economic, and demographic nature of the motion picture industry during the 1950s and 1960s,{{Page needed\|date=February 2017}}{{Page needed\|date=February 2017}}{{Page needed\|date=February 2017}} and although at times its films did well at the box office, the studio lost significant amounts of money throughout the 1960s. In 1966, MGM was sold to Canadian investor [[Edgar Bronfman Sr.]], whose son [[Edgar Bronfman Jr.\|Edgar Jr.]] would later buy [[Universal Studios]].{{Citation needed\|date=August 2014}} Three years later, an increasingly unprofitable MGM was bought by [[Kirk Kerkorian]], who slashed staff and production costs, forced the studio to produce low-quality, low-budget fare, and then ceased theatrical distribution in 1973. The studio continued to produce five to six films a year that were distributed through other studios, usually [[United Artists]]. Kerkorian did, however, commit to increased production and an expanded film library when he bought [[United Artists]] in 1981.{{Citation needed\|date=August 2014}}		MGM was the last studio to convert to sound pictures, but in spite of this fact, from the end of the [[silent film\|silent film era]] through the late 1950s, Metro-Goldwyn-Mayer was the dominant motion picture studio in Hollywood.{{Page needed\|date=February 2017}}{{Page needed\|date=February 2017}} Always slow to respond to the changing legal, economic, and demographic nature of the motion picture industry during the 1950s and 1960s,{{Page needed\|date=February 2017}}{{Page needed\|date=February 2017}}{{Page needed\|date=February 2017}} and although at times its films did well at the box office, the studio lost significant amounts of money throughout the 1960s. In 1966, MGM was sold to Canadian investor [[Edgar Bronfman Sr.]], whose son [[Edgar Bronfman Jr.\|Edgar Jr.]] would later buy [[Universal Studios]].{{Citation needed\|date=August 2014}} Three years later, an increasingly unprofitable MGM was bought by [[Kirk Kerkorian]], who slashed staff and production costs, forced the studio to produce low-quality, low-budget fare, and then ceased theatrical distribution in 1973. The studio continued to produce five to six films a year that were distributed through other studios, usually [[United Artists]]. Kerkorian did, however, commit to increased production and an expanded film library when he bought [[United Artists]] in 1981.{{Citation needed\|date=August 2014}}

	MGM ramped up internal production, as well as keeping production going at UA, which included the lucrative [[James Bond (film series)\|James Bond]] film franchise.{{Page needed\|date=February 2017}} It also incurred significant amounts of debt to increase production.{{Page needed\|date=February 2017}} The studio took on additional debt as a series of owners took charge in the 1980s and early 1990s. In 1986, [[Ted Turner]] bought MGM, but a few months later, sold the company back to Kerkorian to recoup massive debt, while keeping the library assets for himself. The series of deals left MGM even more heavily in debt. MGM was bought by ~~[[Pathé\|~~Pathé Communications]] (led by Italian publishing magnate [[Giancarlo Parretti]]) in 1990, but Parretti lost control of Pathé and defaulted on the loans used to purchase the studio. The French banking conglomerate [[Crédit Lyonnais]], the studio's major creditor, then took control of MGM. Even more deeply in debt, MGM was purchased by a joint venture between Kerkorian, producer [[Frank Mancuso Sr.\|Frank Mancuso]], and Australia's [[Seven Network]] in 1996.		MGM ramped up internal production, as well as keeping production going at UA, which included the lucrative [[James Bond (film series)\|James Bond]] film franchise.{{Page needed\|date=February 2017}} It also incurred significant amounts of debt to increase production.{{Page needed\|date=February 2017}} The studio took on additional debt as a series of owners took charge in the 1980s and early 1990s. In 1986, [[Ted Turner]] bought MGM, but a few months later, sold the company back to Kerkorian to recoup massive debt, while keeping the library assets for himself. The series of deals left MGM even more heavily in debt. MGM was bought by Pathé Communications (led by Italian publishing magnate [[Giancarlo Parretti]]) in 1990, but Parretti lost control of Pathé and defaulted on the loans used to purchase the studio. The French banking conglomerate Crédit Lyonnais, the studio's major creditor, then took control of MGM. Even more deeply in debt, MGM was purchased by a joint venture between Kerkorian, producer [[Frank Mancuso Sr.\|Frank Mancuso]], and Australia's [[Seven Network]] in 1996.

	The debt load from these and subsequent business deals negatively affected MGM's ability to survive as a separate motion picture studio. After a bidding war which included [[Time Warner]] (the current parent of Turner Broadcasting) and [[General Electric]] (the owners of the [[NBC]] television network at the time), MGM was acquired on September 23, 2004, by a partnership consisting of [[Sony Corporation of America]], [[Comcast]], [[TPG Capital\|Texas Pacific Group]] (now TPG Capital, L.P.), [[Providence Equity Partners]], and other investors.		The debt load from these and subsequent business deals negatively affected MGM's ability to survive as a separate motion picture studio. After a bidding war which included [[Time Warner]] (the current parent of Turner Broadcasting) and General Electric (the owners of the [[NBC]] television network at the time), MGM was acquired on September 23, 2004, by a partnership consisting of Sony Corporation of America, Comcast, TPG Capital\|Texas Pacific Group (now TPG Capital, L.P.), Providence Equity Partners, and other investors.

	After its bankruptcy in 2010, MGM reorganized, with its creditors' $4 billion debt transferred to ownership. MGM's creditors control MGM through MGM Holdings, a private company. New management of its film and television production divisions was installed. The creditors have since contracted Morgan Stanley and [[LionTree Advisors]] to explore a sale.		After its bankruptcy in 2010, MGM reorganized, with its creditors' $4 billion debt transferred to ownership. MGM's creditors control MGM through MGM Holdings, a private company. New management of its film and television production divisions was installed. The creditors have since contracted Morgan Stanley and LionTree Advisors to explore a sale.

	==History==		==History==

Adminpeter at 18:37, 30 May 2022

2022-05-30T18:37:38Z

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	\| website = {{URL\|www.MGM.com}}		\| website = {{URL\|www.MGM.com}}
	}}		}}
	'''Metro-Goldwyn-Mayer Studios Inc.''' (also known as '''Metro-Goldwyn-Mayer Pictures''' or '''MGM''')<ref>{{cite web \|title=Slanguage Dictionary: L \|url=https://variety.com/static-pages/slanguage-dictionary/#l \|website=Variety \|access-date=September 14, 2018 \|date=February 20, 2013 \|archive-date=December 18, 2015 \|archive-url=https://web.archive.org/web/20151218071350/https://variety.com/static-pages/slanguage-dictionary/#l \|url-status=live }}</ref> is an American media company, founded in 1924, that produces and distributes feature films and television programs. It is based in Beverly Hills, California.		'''Metro-Goldwyn-Mayer Studios Inc.''' (also known as '''Metro-Goldwyn-Mayer Pictures''' or '''MGM''') is an American media company, founded in 1924, that produces and distributes feature films and television programs. It is based in Beverly Hills, California.

	MGM was formed by [[Marcus Loew]] by combining [[Metro Pictures]], [[Goldwyn Pictures]], and [[Louis B. Mayer Productions\|Louis B. Mayer Pictures]] into a single company.<ref name="Eyman">{{cite book\|last=Eyman\|first=Scott \|title=Lion of Hollywood: The Life and Legend of Louis B. Mayer \|date=2005\|publisher=Simon & Schuster\|location=New York\|page=78\|isbn=0743204816 \|url=https://archive.org/details/lionofhollywoodl00eyma}}</ref><ref name="Balio">{{cite book\|last=Balio\|first=Tino\|title=The American film industry \|date=1985\|publisher=University of Wisconsin Press\|location=Madison, Wisconsin\|isbn=0299098745 \|edition=Revised \|url-access=registration\|url=https://archive.org/details/americanfilmindu0000unse}}</ref> It hired a number of well known actors as contract players—its slogan was "more stars than there are in heaven"—and soon became one of Hollywood's [[major film studios]], producing popular [[musical film]]s and winning many [[Academy Awards]]. The company also owned film studios, movie lots, movie theaters and technical production facilities. Its most prosperous era, from 1926 to 1959, was bracketed by two productions of ''[[Ben-Hur (1959 film)\|Ben Hur]]''. After that, it divested itself of the Loews movie theater chain, and, in the 1960s, diversified into television production.		MGM was formed by [[Marcus Loew]] by combining [[Metro Pictures]], [[Goldwyn Pictures]], and [[Louis B. Mayer Productions\|Louis B. Mayer Pictures]] into a single company.< It hired a number of well known actors as contract players—its slogan was "more stars than there are in heaven"—and soon became one of Hollywood's [[major film studios]], producing popular [[musical film]]s and winning many Academy Awards. The company also owned film studios, movie lots, movie theaters and technical production facilities. Its most prosperous era, from 1926 to 1959, was bracketed by two productions of ''[[Ben-Hur (1959 film)\|Ben Hur]]''. After that, it divested itself of the Loews movie theater chain, and, in the 1960s, diversified into television production.

	In 1969, [[Kirk Kerkorian]] bought 40% of MGM, and dramatically changed the company. He hired new management, reducing the studio's output to about five films per year; and diversified its products, creating [[MGM Resorts International]] and a Las Vegas-based hotel and casino company (which it later divested in the 1980s). In 1980, the studio acquired [[United Artists]]. Kerkorian sold the entire company to [[Ted Turner]] in 1986, who kept the rights to the MGM library in [[Turner Entertainment]], sold the [[Sony Pictures Studios\|studio lot in Culver City]] to [[Lorimar]], and sold back the remnant of MGM back to Kerkorian the same year. After Kerkorian sold and reacquired the company again in the 1990s, he expanded MGM by purchasing [[Orion Pictures]] and [[the Samuel Goldwyn Company]], including both of their film libraries. Finally, in 2004, Kerkorian sold the company to a [[consortium]] that included [[Sony Pictures]].		In 1969, [[Kirk Kerkorian]] bought 40% of MGM, and dramatically changed the company. He hired new management, reducing the studio's output to about five films per year; and diversified its products, creating MGM Resorts International and a Las Vegas-based hotel and casino company (which it later divested in the 1980s). In 1980, the studio acquired [[United Artists]]. Kerkorian sold the entire company to [[Ted Turner]] in 1986, who kept the rights to the MGM library in [[Turner Entertainment]], sold the [[Sony Pictures Studios\|studio lot in Culver City]] to [[Lorimar]], and sold back the remnant of MGM back to Kerkorian the same year. After Kerkorian sold and reacquired the company again in the 1990s, he expanded MGM by purchasing [[Orion Pictures]] and [[the Samuel Goldwyn Company]], including both of their film libraries. Finally, in 2004, Kerkorian sold the company to a [[consortium]] that included [[Sony Pictures]].

	In 2010, MGM filed for Chapter 11 bankruptcy protection and reorganization. After reorganization, MGM emerged from bankruptcy later that year under the ownership of its creditors; two former executives at [[Spyglass Entertainment]], [[Gary Barber]] and [[Roger Birnbaum]], became co-chairmen and co-CEOs of [[MGM Holdings\|MGM's new holding company]]. After Barber's departure in 2020, the studio looked to be acquired by another company in order to pay its creditors.		In 2010, MGM filed for Chapter 11 bankruptcy protection and reorganization. After reorganization, MGM emerged from bankruptcy later that year under the ownership of its creditors; two former executives at [[Spyglass Entertainment]], [[Gary Barber]] and [[Roger Birnbaum]], became co-chairmen and co-CEOs of [[MGM Holdings\|MGM's new holding company]]. After Barber's departure in 2020, the studio looked to be acquired by another company in order to pay its creditors.

Adminpeter at 18:24, 30 May 2022

2022-05-30T18:24:46Z

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			{{TOC left}}
	{{short description\|American media company}}		{{short description\|American media company}}
	{{Use American English\|date=July 2021}}		{{Use American English\|date=July 2021}}

Adminpeter: /* External links */

2022-05-30T18:23:19Z

External links

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	==External links==		==External links==
	{{Commons category\|Metro-Goldwyn-Mayer}}		{{Commons category\|Metro-Goldwyn-Mayer}}
	* [https://www.mgm.com/]		* [https://www.mgm.com/ Official Website]
	* {{cite web\|title= Metro-Goldwyn-Mayer films and personalities scrapbooks \|url=http://archives.nypl.org/the/21411\|access-date=May 26, 2021\|website=archives.nypl.org\|publisher=[[New York Public Library for the Performing Arts]]}}, held by the Billy Rose Theatre Division,		* {{cite web\|title= Metro-Goldwyn-Mayer films and personalities scrapbooks \|url=http://archives.nypl.org/the/21411\|access-date=May 26, 2021\|website=archives.nypl.org\|publisher=[[New York Public Library for the Performing Arts]]}}, held by the Billy Rose Theatre Division,
	* {{Cite archival metadata		* {{Cite archival metadata

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2022-05-30T18:22:27Z

External links

← Older revision		Revision as of 14:22, 30 May 2022
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	==External links==		==External links==
	{{Commons category\|Metro-Goldwyn-Mayer}}		{{Commons category\|Metro-Goldwyn-Mayer}}
	* {{https://www.mgm.com/}}		* [https://www.mgm.com/]
	* {{cite web\|title= Metro-Goldwyn-Mayer films and personalities scrapbooks \|url=http://archives.nypl.org/the/21411\|access-date=May 26, 2021\|website=archives.nypl.org\|publisher=[[New York Public Library for the Performing Arts]]}}, held by the Billy Rose Theatre Division,		* {{cite web\|title= Metro-Goldwyn-Mayer films and personalities scrapbooks \|url=http://archives.nypl.org/the/21411\|access-date=May 26, 2021\|website=archives.nypl.org\|publisher=[[New York Public Library for the Performing Arts]]}}, held by the Billy Rose Theatre Division,
	* {{Cite archival metadata		* {{Cite archival metadata

Adminpeter: /* External links */

2022-05-30T18:20:56Z

External links

← Older revision		Revision as of 14:20, 30 May 2022
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	==External links==		==External links==
	{{Commons category\|Metro-Goldwyn-Mayer}}		{{Commons category\|Metro-Goldwyn-Mayer}}
	* {{~~Official website~~}}		* {{https://www.mgm.com/}}
	* {{cite web\|title= Metro-Goldwyn-Mayer films and personalities scrapbooks \|url=http://archives.nypl.org/the/21411\|access-date=May 26, 2021\|website=archives.nypl.org\|publisher=[[New York Public Library for the Performing Arts]]}}, held by the Billy Rose Theatre Division,		* {{cite web\|title= Metro-Goldwyn-Mayer films and personalities scrapbooks \|url=http://archives.nypl.org/the/21411\|access-date=May 26, 2021\|website=archives.nypl.org\|publisher=[[New York Public Library for the Performing Arts]]}}, held by the Billy Rose Theatre Division,
	* {{Cite archival metadata		* {{Cite archival metadata

Adminpeter: /* See also */

2022-05-30T18:19:20Z

← Older revision		Revision as of 14:37, 30 May 2022
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	\| website = {{URL\|www.MGM.com}}		\| website = {{URL\|www.MGM.com}}
	}}		}}
	'''Metro-Goldwyn-Mayer Studios Inc.''' (also known as '''Metro-Goldwyn-Mayer Pictures''' or '''MGM''')<ref>{{cite web \|title=Slanguage Dictionary: L \|url=https://variety.com/static-pages/slanguage-dictionary/#l \|website=Variety \|access-date=September 14, 2018 \|date=February 20, 2013 \|archive-date=December 18, 2015 \|archive-url=https://web.archive.org/web/20151218071350/https://variety.com/static-pages/slanguage-dictionary/#l \|url-status=live }}</ref> is an American media company, founded in 1924, that produces and distributes feature films and television programs. It is based in Beverly Hills, California.		'''Metro-Goldwyn-Mayer Studios Inc.''' (also known as '''Metro-Goldwyn-Mayer Pictures''' or '''MGM''') is an American media company, founded in 1924, that produces and distributes feature films and television programs. It is based in Beverly Hills, California.

	MGM was formed by [[Marcus Loew]] by combining [[Metro Pictures]], [[Goldwyn Pictures]], and [[Louis B. Mayer Productions\|Louis B. Mayer Pictures]] into a single company.<ref name="Eyman">{{cite book\|last=Eyman\|first=Scott \|title=Lion of Hollywood: The Life and Legend of Louis B. Mayer \|date=2005\|publisher=Simon & Schuster\|location=New York\|page=78\|isbn=0743204816 \|url=https://archive.org/details/lionofhollywoodl00eyma}}</ref><ref name="Balio">{{cite book\|last=Balio\|first=Tino\|title=The American film industry \|date=1985\|publisher=University of Wisconsin Press\|location=Madison, Wisconsin\|isbn=0299098745 \|edition=Revised \|url-access=registration\|url=https://archive.org/details/americanfilmindu0000unse}}</ref> It hired a number of well known actors as contract players—its slogan was "more stars than there are in heaven"—and soon became one of Hollywood's [[major film studios]], producing popular [[musical film]]s and winning many [[Academy Awards]]. The company also owned film studios, movie lots, movie theaters and technical production facilities. Its most prosperous era, from 1926 to 1959, was bracketed by two productions of ''[[Ben-Hur (1959 film)\|Ben Hur]]''. After that, it divested itself of the Loews movie theater chain, and, in the 1960s, diversified into television production.		MGM was formed by [[Marcus Loew]] by combining [[Metro Pictures]], [[Goldwyn Pictures]], and [[Louis B. Mayer Productions\|Louis B. Mayer Pictures]] into a single company.< It hired a number of well known actors as contract players—its slogan was "more stars than there are in heaven"—and soon became one of Hollywood's [[major film studios]], producing popular [[musical film]]s and winning many Academy Awards. The company also owned film studios, movie lots, movie theaters and technical production facilities. Its most prosperous era, from 1926 to 1959, was bracketed by two productions of ''[[Ben-Hur (1959 film)\|Ben Hur]]''. After that, it divested itself of the Loews movie theater chain, and, in the 1960s, diversified into television production.

	In 1969, [[Kirk Kerkorian]] bought 40% of MGM, and dramatically changed the company. He hired new management, reducing the studio's output to about five films per year; and diversified its products, creating [[MGM Resorts International]] and a Las Vegas-based hotel and casino company (which it later divested in the 1980s). In 1980, the studio acquired [[United Artists]]. Kerkorian sold the entire company to [[Ted Turner]] in 1986, who kept the rights to the MGM library in [[Turner Entertainment]], sold the [[Sony Pictures Studios\|studio lot in Culver City]] to [[Lorimar]], and sold back the remnant of MGM back to Kerkorian the same year. After Kerkorian sold and reacquired the company again in the 1990s, he expanded MGM by purchasing [[Orion Pictures]] and [[the Samuel Goldwyn Company]], including both of their film libraries. Finally, in 2004, Kerkorian sold the company to a [[consortium]] that included [[Sony Pictures]].		In 1969, [[Kirk Kerkorian]] bought 40% of MGM, and dramatically changed the company. He hired new management, reducing the studio's output to about five films per year; and diversified its products, creating MGM Resorts International and a Las Vegas-based hotel and casino company (which it later divested in the 1980s). In 1980, the studio acquired [[United Artists]]. Kerkorian sold the entire company to [[Ted Turner]] in 1986, who kept the rights to the MGM library in [[Turner Entertainment]], sold the [[Sony Pictures Studios\|studio lot in Culver City]] to [[Lorimar]], and sold back the remnant of MGM back to Kerkorian the same year. After Kerkorian sold and reacquired the company again in the 1990s, he expanded MGM by purchasing [[Orion Pictures]] and [[the Samuel Goldwyn Company]], including both of their film libraries. Finally, in 2004, Kerkorian sold the company to a [[consortium]] that included [[Sony Pictures]].

	In 2010, MGM filed for Chapter 11 bankruptcy protection and reorganization. After reorganization, MGM emerged from bankruptcy later that year under the ownership of its creditors; two former executives at [[Spyglass Entertainment]], [[Gary Barber]] and [[Roger Birnbaum]], became co-chairmen and co-CEOs of [[MGM Holdings\|MGM's new holding company]]. After Barber's departure in 2020, the studio looked to be acquired by another company in order to pay its creditors.		In 2010, MGM filed for Chapter 11 bankruptcy protection and reorganization. After reorganization, MGM emerged from bankruptcy later that year under the ownership of its creditors; two former executives at [[Spyglass Entertainment]], [[Gary Barber]] and [[Roger Birnbaum]], became co-chairmen and co-CEOs of [[MGM Holdings\|MGM's new holding company]]. After Barber's departure in 2020, the studio looked to be acquired by another company in order to pay its creditors.

← Older revision		Revision as of 14:19, 30 May 2022
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	==See also==		==See also==
	~~{{Portal\|Greater Los Angeles\|Companies\|Film}}~~
	* [[List of libraries owned by Metro-Goldwyn-Mayer]]		* [[List of libraries owned by Metro-Goldwyn-Mayer]]
	* [[List of MGM Television programs]]		* [[List of MGM Television programs]]

← Older revision		Revision as of 14:56, 30 May 2022
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	MGM was formed by [[Marcus Loew]] by combining [[Metro Pictures]], [[Goldwyn Pictures]], and [[Louis B. Mayer Productions\|Louis B. Mayer Pictures]] into a single company.< It hired a number of well known actors as contract players—its slogan was "more stars than there are in heaven"—and soon became one of Hollywood's [[major film studios]], producing popular [[musical film]]s and winning many Academy Awards. The company also owned film studios, movie lots, movie theaters and technical production facilities. Its most prosperous era, from 1926 to 1959, was bracketed by two productions of ''[[Ben-Hur (1959 film)\|Ben Hur]]''. After that, it divested itself of the Loews movie theater chain, and, in the 1960s, diversified into television production.		MGM was formed by [[Marcus Loew]] by combining [[Metro Pictures]], [[Goldwyn Pictures]], and [[Louis B. Mayer Productions\|Louis B. Mayer Pictures]] into a single company.< It hired a number of well known actors as contract players—its slogan was "more stars than there are in heaven"—and soon became one of Hollywood's [[major film studios]], producing popular [[musical film]]s and winning many Academy Awards. The company also owned film studios, movie lots, movie theaters and technical production facilities. Its most prosperous era, from 1926 to 1959, was bracketed by two productions of ''[[Ben-Hur (1959 film)\|Ben Hur]]''. After that, it divested itself of the Loews movie theater chain, and, in the 1960s, diversified into television production.

	In 1969, [[Kirk Kerkorian]] bought 40% of MGM, and dramatically changed the company. He hired new management, reducing the studio's output to about five films per year; and diversified its products, creating MGM Resorts International and a Las Vegas-based hotel and casino company (which it later divested in the 1980s). In 1980, the studio acquired [[United Artists]]. Kerkorian sold the entire company to [[Ted Turner]] in 1986, who kept the rights to the MGM library in [[Turner Entertainment]], sold the [[Sony Pictures Studios\|studio lot in Culver City]] to [[Lorimar]], and sold back the remnant of MGM back to Kerkorian the same year. After Kerkorian sold and reacquired the company again in the 1990s, he expanded MGM by purchasing [[Orion Pictures]] and [[the Samuel Goldwyn Company]], including both of their film libraries. Finally, in 2004, Kerkorian sold the company to a [[consortium]] that included [[Sony Pictures]].		In 1969, [[Kirk Kerkorian]] bought 40% of MGM, and dramatically changed the company. He hired new management, reducing the studio's output to about five films per year; and diversified its products, creating MGM Resorts International and a Las Vegas-based hotel and casino company (which it later divested in the 1980s). In 1980, the studio acquired [[United Artists]]. Kerkorian sold the entire company to [[Ted Turner]] in 1986, who kept the rights to the MGM library in [[Turner Entertainment]], sold the [[Sony Pictures Studios\|studio lot in Culver City]] to [[Lorimar]], and sold back the remnant of MGM back to Kerkorian the same year. After Kerkorian sold and reacquired the company again in the 1990s, he expanded MGM by purchasing [[Orion Pictures]] and [[the Samuel Goldwyn Company]], including both of their film libraries. Finally, in 2004, Kerkorian sold the company to a consortium that included [[Sony Pictures]].

	In 2010, MGM filed for Chapter 11 bankruptcy protection and reorganization. After reorganization, MGM emerged from bankruptcy later that year under the ownership of its creditors; two former executives at [[Spyglass Entertainment]], [[Gary Barber]] and [[Roger Birnbaum]], became co-chairmen and co-CEOs of ~~[[MGM Holdings\|~~MGM's new holding company]]. After Barber's departure in 2020, the studio looked to be acquired by another company in order to pay its creditors.		In 2010, MGM filed for Chapter 11 bankruptcy protection and reorganization. After reorganization, MGM emerged from bankruptcy later that year under the ownership of its creditors; two former executives at [[Spyglass Entertainment]], [[Gary Barber]] and [[Roger Birnbaum]], became co-chairmen and co-CEOs of MGM's new holding company. After Barber's departure in 2020, the studio looked to be acquired by another company in order to pay its creditors.

	In May 2021, [[Amazon ~~(company)\|Amazon]]~~ acquired the studio for $8.45 billion; the deal closed in March 2022.		In May 2021, Amazon acquired the studio for $8.45 billion; the deal closed in March 2022.

	As of 2022, in the present day, MGM is still producing and distributing feature films and television series. Its major film productions include the [[Rocky (franchise)\|''Rocky'']] and [[James Bond (franchise)\|''James Bond'' franchise]]s, and among its recent television productions is the series ''[[The Handmaid's Tale (TV series)\|The Handmaid's Tale]]''.		As of 2022, in the present day, MGM is still producing and distributing feature films and television series. Its major film productions include the [[Rocky (franchise)\|''Rocky'']] and [[James Bond (franchise)\|''James Bond'' franchise]]s, and among its recent television productions is the series ''[[The Handmaid's Tale (TV series)\|The Handmaid's Tale]]''.
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	MGM was the last studio to convert to sound pictures, but in spite of this fact, from the end of the [[silent film\|silent film era]] through the late 1950s, Metro-Goldwyn-Mayer was the dominant motion picture studio in Hollywood. Always slow to respond to the changing legal, economic, and demographic nature of the motion picture industry during the 1950s and 1960s, and although at times its films did well at the box office, the studio lost significant amounts of money throughout the 1960s. In 1966, MGM was sold to Canadian investor [[Edgar Bronfman Sr.]], whose son [[Edgar Bronfman Jr.\|Edgar Jr.]] would later buy [[Universal Studios]]. Three years later, an increasingly unprofitable MGM was bought by [[Kirk Kerkorian]], who slashed staff and production costs, forced the studio to produce low-quality, low-budget fare, and then ceased theatrical distribution in 1973. The studio continued to produce five to six films a year that were distributed through other studios, usually [[United Artists]]. Kerkorian did, however, commit to increased production and an expanded film library when he bought [[United Artists]] in 1981.		MGM was the last studio to convert to sound pictures, but in spite of this fact, from the end of the [[silent film\|silent film era]] through the late 1950s, Metro-Goldwyn-Mayer was the dominant motion picture studio in Hollywood. Always slow to respond to the changing legal, economic, and demographic nature of the motion picture industry during the 1950s and 1960s, and although at times its films did well at the box office, the studio lost significant amounts of money throughout the 1960s. In 1966, MGM was sold to Canadian investor [[Edgar Bronfman Sr.]], whose son [[Edgar Bronfman Jr.\|Edgar Jr.]] would later buy [[Universal Studios]]. Three years later, an increasingly unprofitable MGM was bought by [[Kirk Kerkorian]], who slashed staff and production costs, forced the studio to produce low-quality, low-budget fare, and then ceased theatrical distribution in 1973. The studio continued to produce five to six films a year that were distributed through other studios, usually [[United Artists]]. Kerkorian did, however, commit to increased production and an expanded film library when he bought [[United Artists]] in 1981.

	MGM ramped up internal production, as well as keeping production going at UA, which included the lucrative [[James Bond (film series)\|James Bond]] film franchise. It also incurred significant amounts of debt to increase production. The studio took on additional debt as a series of owners took charge in the 1980s and early 1990s. In 1986, [[Ted Turner]] bought MGM, but a few months later, sold the company back to Kerkorian to recoup massive debt, while keeping the library assets for himself. The series of deals left MGM even more heavily in debt. MGM was bought by Pathé Communications (led by Italian publishing magnate [[Giancarlo Parretti]]) in 1990, but Parretti lost control of Pathé and defaulted on the loans used to purchase the studio. The French banking conglomerate Crédit Lyonnais, the studio's major creditor, then took control of MGM. Even more deeply in debt, MGM was purchased by a joint venture between Kerkorian, producer [[Frank Mancuso Sr.\|Frank Mancuso]], and Australia's [[Seven Network]] in 1996.		MGM ramped up internal production, as well as keeping production going at UA, which included the lucrative [[James Bond (film series)\|James Bond]] film franchise. It also incurred significant amounts of debt to increase production. The studio took on additional debt as a series of owners took charge in the 1980s and early 1990s. In 1986, [[Ted Turner]] bought MGM, but a few months later, sold the company back to Kerkorian to recoup massive debt, while keeping the library assets for himself. The series of deals left MGM even more heavily in debt. MGM was bought by Pathé Communications (led by Italian publishing magnate Giancarlo Parretti) in 1990, but Parretti lost control of Pathé and defaulted on the loans used to purchase the studio. The French banking conglomerate Crédit Lyonnais, the studio's major creditor, then took control of MGM. Even more deeply in debt, MGM was purchased by a joint venture between Kerkorian, producer [[Frank Mancuso Sr.\|Frank Mancuso]], and Australia's [[Seven Network]] in 1996.

	The debt load from these and subsequent business deals negatively affected MGM's ability to survive as a separate motion picture studio. After a bidding war which included [[Time Warner]] (the current parent of Turner Broadcasting) and General Electric (the owners of the [[NBC]] television network at the time), MGM was acquired on September 23, 2004, by a partnership consisting of Sony Corporation of America, Comcast, TPG Capital\|Texas Pacific Group (now TPG Capital, L.P.), Providence Equity Partners, and other investors.		The debt load from these and subsequent business deals negatively affected MGM's ability to survive as a separate motion picture studio. After a bidding war which included [[Time Warner]] (the current parent of Turner Broadcasting) and General Electric (the owners of the [[NBC]] television network at the time), MGM was acquired on September 23, 2004, by a partnership consisting of Sony Corporation of America, Comcast, TPG Capital\|Texas Pacific Group (now TPG Capital, L.P.), Providence Equity Partners, and other investors.
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	===Founding and early years===		===Founding and early years===
	In 1924, movie theater magnate [[Marcus Loew]] had a problem: He had bought [[Metro Pictures\|Metro Pictures Corporation]] in 1919 for $3 million, to provide a steady supply of films for his large ~~[[Loews Cineplex Entertainment\|~~Loew's Theatres]] chain.~~{{sfn\|Hay\|1991\|p=15}}~~ However, he found that his new property only provided a lackluster assortment of films. Seeking to solve this problem, Loew purchased [[Goldwyn Pictures]] in 1924 for $5 million to improve the quality of the theatres' products.{{sfn\|Hay\|1991\|p=15}} 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. Approached by [[Louis B. Mayer]], Loew addressed the situation by buying Louis B. Mayer Pictures for $75,000.{{sfn\|Hay\|1991\|p=15}} Loews Incorporated completed the merger of the Loews theater chain, Metro's distribution network, Goldwyn Pictures studio and Louis B. Mayer Productions on April 17, 1924, celebrated with a fete on April 26, 1924.{{sfn\|Hay\|1991\|pp=19–20}} Mayer became head of the renamed Metro-Goldwyn-Mayer, with 24-year-old [[Irving Thalberg]] as head of production. Final approval over budgets and contracts rested with New York City-based Loews Inc., while production decisions rested with the production headquarters in Culver City.~~{{sfn\|Hay\|1991\|p=15}}~~		In 1924, movie theater magnate [[Marcus Loew]] had a problem: He had bought [[Metro Pictures\|Metro Pictures Corporation]] in 1919 for $3 million, to provide a steady supply of films for his large Loew's Theatres chain. However, he found that his new property only provided a lackluster assortment of films. Seeking to solve this problem, Loew purchased [[Goldwyn Pictures]] in 1924 for $5 million to improve the quality of the theatres' products.{{sfn\|Hay\|1991\|p=15}} 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. Approached by [[Louis B. Mayer]], Loew addressed the situation by buying Louis B. Mayer Pictures for $75,000.{{sfn\|Hay\|1991\|p=15}} Loews Incorporated completed the merger of the Loews theater chain, Metro's distribution network, Goldwyn Pictures studio and Louis B. Mayer Productions on April 17, 1924, celebrated with a fete on April 26, 1924.{{sfn\|Hay\|1991\|pp=19–20}} Mayer became head of the renamed Metro-Goldwyn-Mayer, with 24-year-old [[Irving Thalberg]] as head of production. Final approval over budgets and contracts rested with New York City-based Loews Inc., while production decisions rested with the production headquarters in Culver City.

	MGM produced more than 100 feature films in its first two years. In 1925, MGM released the extravagant and successful ''[[Ben-Hur (1925 film)\|Ben-Hur]]'', taking a $4.7 million profit that year, its first full year. Also in 1925, MGM, [[Paramount Pictures]] and [[UFA ~~GmbH\|UFA]]~~ formed a joint German distributor, [[Parufamet]].		MGM produced more than 100 feature films in its first two years. In 1925, MGM released the extravagant and successful ''[[Ben-Hur (1925 film)\|Ben-Hur]]'', taking a $4.7 million profit that year, its first full year. Also in 1925, MGM, [[Paramount Pictures]] and UFA formed a joint German distributor, Parufamet.

	Marcus Loew died in 1927, and control of Loew's passed to Nicholas Schenck. In 1929, [[William Fox (producer)\|William Fox]] of [[Fox Film\|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"),{{sfn\|Hay\|1991}}{{Page needed\|date=February 2017}} and the abortive Fox merger increased the animosity between the two men.		Marcus Loew died in 1927, and control of Loew's passed to Nicholas Schenck. In 1929, [[William Fox (producer)\|William Fox]] of [[Fox Film\|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"),{{sfn\|Hay\|1991}}{{Page needed\|date=February 2017}} and the abortive Fox merger increased the animosity between the two men.