MGM Studios

by Kendra Williams

TRF 235

MGM Studios

History

Metro-Goldwyn-Mayers, also known as MGM for short, is a film studio that distributes as well as produces motion pictures. The film company owns the largest collection of modern films to date of about 1,400 films. MGM, based in Culver City, California, was the result of the merger between three film companies in 1924: Metro Pictures Corporation, Goldwyn Pictures, and Louis B. Mayer Productions. The company had a thirty year string of success from it’s founding in 1924 to 1954. Throughout this time period MGM produced an Academy Award nominated film every year.

MGM studios changed their logo nine times since its founding in 1924

January 10th MGM studios and Twentieth Century Fox Home Entertainment released “BOND 50” which contains all 22 James Bond films on Blu-ray. This is the first time all 22 films were released altogether in honor of the 50th anniversary. James Bond is the longest running and most profitable series in film history. Click this link to see MGM History.

As of February 6th MGM is on the way to closing off their debt after the company went bankrupt about a year ago. MGM made a deal where they are receiving $500 million revolving credit from numerous banks including JPMorgan Chase, Wells Fargo, City National Bank, and Deutsche. Fortunately this deal allows for the company to continue producing with their film and television business. The company’s Co-Chairman and Chief Executive Officers have mentioned they are grateful for the amount of confidence the financial community has in them. Additionally, MGM also made an agreement with the Tele Munchen Group, (TMG), in which TMG now has exclusive TV rights to motion pictures and TV shows to air in Europe for five years.

Since March 5th MGM partnered with Sony Pictures Entertainment to co-finance as well as distribute a remake of the 1987 film Robocop, to be released in August of 2013. Both the two companies have different rolls in the production; MGM is in charge of theatrical distribution and production responsibilities. Around mid March MGM announced that the popular movie Hoosiers is being released on Blu-ray on June 5th for the 25th anniversary of the movie.

As of March 13th the HISTORY network ordered its first scripted drama series entitled Vikings from MGM studios. The full season of Vikings is to appear on the network in 2013. Vikings is an Irish/Canadian co-production to be filmed in Ireland and Northern Europe. Vikings is about historical figure Ragnar Lothbrok and his family as they live among the Viking culture. The MGM president of Television Group and Digital commented, “We are thrilled to be able to bring HISTORY their first scripted series […] We look forward to using MGM’s global reach to introduce Vikings around the world.”

It was announced on April 2nd that Jennifer Sharp was appointed senior vice president of New Platforms. Under her new title she will focus on business opportunities that use MGM’s new television and theatrical content. Among those working closely with her are Roma Khanna and MGM’s Chief Operating Officer, Kevin Schapiro. Prior to this current position Sharp has been Group Product Manager of Books at Amazon.com, as well as Vice President of Business Development for Conduit Ltd, a technology company.

A big step for MGM was made during the middle of April, when MGM made a deal that allowed more than 600 of its titles to be rented on YouTube and Google Play in the United States and Canada. This deal has made it easier for YouTube and Google Play subscribers to watch MGM films instantly.

 

Sources

History retrieved from: http://www.mgm.com/corporate/index.html

Metro-Goldwyn-Mayer image retrieved from: http://spacegypsies.com/media/2010/12/mgm.jpg

Jan 10th; Feb 6th; March 5th; April 2: retrieved from: http://www.mgm.com/news/

MArch 13th retrieved from: http://www.iftn.ie/production/production_news/?act1=record&only=1&aid=73&rid=4284679&tpl=archnewshome&force=1

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