{"id":20343,"date":"2014-12-01T18:00:54","date_gmt":"2014-12-01T23:00:54","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=20343"},"modified":"2015-08-08T23:06:27","modified_gmt":"2015-08-09T03:06:27","slug":"mgm-studios-2","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2014\/12\/01\/mgm-studios-2\/","title":{"rendered":"MGM Studios"},"content":{"rendered":"
by Abby Schwartz<\/pre>\n
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[1]<\/a> MGM<\/a>‘s iconic logo and mascot Leo the Lion<\/p><\/div>\n
History<\/strong><\/p>\n
MGM<\/a> Studios was founded in 1924 through the merger of three pre-existing studios: Metro Pictures Corp., Goldwyn Pictures, and Louis B. Mayer Productions. This leading entertainment company is involved primarily in the production and distribution of films and television programs. \u00a0Some of the studio’s early work include successful classics such as Gone\u00a0with the Wind<\/i><\/a>\u00a0<\/i>and The Wizard of Oz<\/i><\/a>\u00a0[2]<\/a>. Once a major player in the industry, MGM filed for Chapter 11 Bankruptcy<\/a> in 2010 but emerged shortly thereafter, leaving Gary Barber<\/a> and Roger Birnbaum<\/a> of Spyglass Entertainment<\/a> as heads on the company [3]<\/a>. A mere two years later however, Birnbaum left MGM to return to producing, making Barber the sole CEO and Chairman of the company [4]<\/a>. 2014 marks the 90th Anniversary<\/a> of the studio. In celebration, movies will be re-released on Blu-ray and a special trailer will be played throughout theaters giving the viewers a glimpse into the rich history of the company\u00a0[5]<\/a>.<\/p>\n
Key Executives<\/strong><\/p>\n
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[6]<\/a>\u00a0Gary Barber<\/a>\u00a0(L)- Chairman and CEO<\/p>\n
[7]<\/a> Jonathan Glickman<\/a>\u00a0 (R)- President, Motion Picture Group<\/p>\n
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\"Screen<\/a><\/p>\n
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[8] <\/a>Roma Khanna<\/a>\u00a0(L)- President, Television Group and Digital<\/p>\n
[9] <\/a>Dene B. Stratton<\/a>\u00a0(R)- CFO<\/p>\n
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Finances<\/strong><\/p>\n
Although still partially privately held by\u00a0MGM Holdings Inc<\/a>. MGM has been publicly releasing its finances since its bankruptcy in 2010 and IPO for MGMB was offered in 2012. In its most recent\u00a0quarterly report<\/a>\u00a0(Q3), the company announced net income of $28.5 million, up from 16.5 in the same quarter last year. The revenue however, came in about $9 million lower in comparison to the same quarter in 2013 [10]<\/a>. This drop was expected since 2013 generated significant revenue thanks to the\u00a0“theatrical explosion<\/a>” of\u00a0Skyfall<\/i><\/a>, the 23rd installment in\u00a0the successful\u00a0James Bond<\/i><\/a> franchise, in late 2012\u00a0[11]<\/a>.<\/p>\n
MGM also revealed in its report that it had paid $343 million for a 55% stake in a joint venture<\/a>\u00a0with Mark Burnett<\/a>,\u00a0Roma Downey<\/a>, and Hearst Entertainment\u00a0Productions<\/a>\u00a0[12]<\/a>. All of the interests will be consolidated in United Artists Media Group<\/a> – a\u00a0new media venture. This venture gives MGM a stake in successful television shows such as Survivor<\/i><\/a>, The Voice<\/i><\/a>, Shark Tank<\/i><\/a>, and the upcoming miniseries A.D.<\/i><\/a> [13]<\/a>.<\/p>\n
Upcoming Projects<\/strong><\/p>\n
The Hobbit: The Battle of Five Armies<\/a> (12\/17\/14)<\/p>\n