Metro-Goldwyn-Mayer

"MGM" redirects here. For the divested Las Vegas–based hotel and casino company, see MGM Resorts International. For other uses, see MGM (disambiguation).
"MGM Distribution Co." redirects here. Not to be confused with MGM Distribution.

Metro-Goldwyn-Mayer Studios Inc.
Metro-Goldwyn-Mayer
FormerlyMetro-Goldwyn Pictures (1924)
Company typeSubsidiary
Industry
Predecessors
FoundedApril 17, 1924; 100 years ago (1924-04-17)
Founders
Headquarters245 North Beverly Drive,
Beverly Hills, California 90210
,
United States
Number of locations
4
Area served
Worldwide
Key people
Jennifer Salke (chairwoman and CEO)
Products
Number of employees
4,200 (2022)
Parent
Divisions
SubsidiariesRede Telecine (12.5%)
Websitemgm.com

Metro-Goldwyn-Mayer Studios Inc. (also known as Metro-Goldwyn-Mayer Pictures, commonly shortened to MGM)[1] is an American media company specializing in film and television production and distribution based in Beverly Hills, California.[2] Metro-Goldwyn-Mayer was founded on April 17, 1924, and has been owned by the Amazon MGM Studios subsidiary of Amazon since 2022.

MGM was formed by Marcus Loew by combining Metro Pictures, Goldwyn Pictures and Louis B. Mayer Pictures into one company.[3][4] It hired a number of well-known actors as contract players—its slogan was "more stars than there are in heaven"—and soon became Hollywood's most prestigious filmmaking company, producing popular musical films and winning many Academy Awards. MGM 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. It divested itself of the Loews movie theater chain and, in 1956, expanded into television production.

In 1969, businessman and investor Kirk Kerkorian bought 40% of MGM and dramatically changed the operation and direction of the studio.[5] He hired new management, reduced the studio's output to about five films per year, and diversified its products, creating MGM Resorts International as a Las Vegas–based hotel and casino company (which it later divested in the 1980s). In 1981, the studio acquired United Artists. In 1986, Kerkorian sold MGM to Ted Turner, who retained the rights to the MGM film library, sold the studio lot in Culver City to Lorimar, and sold the remnants of MGM back to Kerkorian a few months later. 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 2005, Kerkorian sold MGM to a consortium that included Sony Pictures.

In 2010, MGM filed for Chapter 11 bankruptcy protection and reorganization.[6][7] After reorganization, it emerged from bankruptcy later that year under its creditors' ownership. Two former executives at Spyglass Entertainment, Gary Barber and Roger Birnbaum, became co-chairmen and co-CEOs of MGM's new holding company.[8] After Barber's departure in 2018, the studio sought to be acquired by another company to pay its creditors.[9] In May 2021, Amazon acquired MGM for US$8.45 billion;[10] the deal closed in March 2022.[11] In October 2023, Amazon Studios absorbed MGM Holdings and rebranded itself as Amazon MGM Studios.[12] As of 2023, its most commercially successful film franchises include Rocky and James Bond, while its most recent television productions include Fargo and The Handmaid's Tale.

As a subsidiary of Amazon MGM Studios, MGM is a member of the Motion Picture Association (MPA); it was a founding member before leaving in the 2005 acquisition.

  1. ^ "Slanguage Dictionary: L". Variety. February 20, 2013. Archived from the original on December 18, 2015. Retrieved September 14, 2018.
  2. ^ "Corporate – Contact Us". Metro-Goldwyn-Mayer. Archived from the original on December 6, 2012. Retrieved January 19, 2003.
  3. ^ Eyman, Scott (2005). Lion of Hollywood: The Life and Legend of Louis B. Mayer. New York: Simon & Schuster. p. 78. ISBN 0743204816.
  4. ^ Balio, Tino (1985). The American film industry (Revised ed.). Madison, Wisconsin: University of Wisconsin Press. ISBN 0299098745.
  5. ^ "A Brief History of MGM in Pictures". mango-madness.com. Archived from the original on August 20, 2023. Retrieved August 20, 2023.
  6. ^ "Business News, Stock market & Financial Advice". Businessweek. Archived from the original on April 24, 2011. Retrieved August 6, 2014.
  7. ^ "MGM Officially File for Bankruptcy". The Hollywood News. November 3, 2010. Archived from the original on January 4, 2022. Retrieved August 6, 2014.
  8. ^ "MGM 2010 Restructuring" (PDF). online.wsj.com. Archived (PDF) from the original on June 25, 2021. Retrieved January 5, 2012.
  9. ^ Faughnder, Ryan (December 20, 2020). "James Bond studio MGM is exploring a sale. So who's buying?". Los Angeles Times. Archived from the original on December 17, 2021. Retrieved May 9, 2021.
  10. ^ Spangler, Todd; Lang, Brent (May 26, 2021). "Amazon Buys MGM, Studio Behind James Bond, for $8.45 Billion". Variety. Archived from the original on January 25, 2022. Retrieved May 26, 2021.
  11. ^ Maas, Jennifer (March 17, 2022). "Amazon Closes $8.5 Billion Acquisition of MGM". Variety. Archived from the original on April 4, 2022. Retrieved March 17, 2022.
  12. ^ Cite error: The named reference :2 was invoked but never defined (see the help page).