Metro-Goldwyn-Mayer Studios: Difference between revisions
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'''Metro''' Pictures Corporation was founded on June 23, 1915 by Richard A. Rowland (1880-1947) and Louis B. '''Mayer''' (1885-1957), and started out distributing films produced by [[Solax Studios]]. However, Mayer left the studio soon after operations began to form his own company, [[Louis B. Mayer Pictures Corporation]], in 1918. Richard Rowland would continue to produce a number of films in New York City, Fort Lee, New Jersey, and Hollywood, where he established a backlot at North Cahuenga Boulevard (which remains open and is today known as Red Studios Hollywood). [[Loews Theatres|Marcus Loew]], a theater magnate who had been seeking | '''Metro''' Pictures Corporation was founded on June 23, 1915, by Richard A. Rowland (1880-1947) and Louis B. '''Mayer''' (1885-1957), and started out distributing films produced by [[Solax Studios]]. However, Mayer left the studio soon after operations began to form his own company, [[Louis B. Mayer Pictures Corporation]], in 1918. Richard Rowland would continue to produce a number of films in New York City, Fort Lee, New Jersey, and Hollywood, where he established a backlot at North Cahuenga Boulevard (which remains open and is today known as Red Studios Hollywood). [[Loews Theatres|Marcus Loew]], a theater magnate who had been seeking products for his ever-expanding collective of nickelodeons, vaudeville houses, and movie palaces, acquired Metro Pictures in 1920. | ||
Dissatisfied with Metro's output following his purchase of the studio, Loew later purchased [[Goldwyn Pictures|'''Goldwyn''' Pictures]] in 1924 and combined the two studios in the hope of creating higher quality content for his theaters. The same year, Louis B. Mayer sold Louis B. Mayer Productions to Loew for $75,000 (around $1.17 million adjusted for inflation). On April 17, 1924, the three studios were merged to become '''Metro-Goldwyn-Mayer, Inc.''' ('''MGM'''). With Mayer serving as head of the studio, MGM became one of the major players in the Golden Age of Hollywood, and was one of the "Big Five" film studios, alongside [[Paramount Pictures]], [[RKO Radio Pictures]], [[20th Century Studios|20th Century Fox]] and [[Warner Bros. Pictures|Warner Bros.]] At its peak in the 1930s, the studio was releasing 50 films a year. In 1952, Loews Inc. was forced to relinquish control of MGM due to the outcome of ''[[w:United States v. Paramount Pictures, Inc.|United States v. Paramount Pictures, Inc.]]'', which forced studios and theaters to separate. By the time the split was completed in 1959, MGM was in decline due to a combination of the split, the decline of the old studio system, and the rise of television. In 1957, the same year Louis B. Mayer died, the company filed a loss for the first time ever. | Dissatisfied with Metro's output following his purchase of the studio, Loew later purchased [[Goldwyn Pictures|'''Goldwyn''' Pictures]] in 1924 and combined the two studios in the hope of creating higher-quality content for his theaters. The same year, Louis B. Mayer sold Louis B. Mayer Productions to Loew for $75,000 (around $1.17 million adjusted for inflation). On April 17, 1924, the three studios were merged to become '''Metro-Goldwyn-Mayer, Inc.''' ('''MGM'''). With Mayer serving as head of the studio, MGM became one of the major players in the Golden Age of Hollywood, and was one of the "Big Five" film studios, alongside [[Paramount Pictures]], [[RKO Radio Pictures]], [[20th Century Studios|20th Century Fox]] and [[Warner Bros. Pictures|Warner Bros.]] At its peak in the 1930s, the studio was releasing 50 films a year. In 1952, Loews Inc. was forced to relinquish control of MGM due to the outcome of ''[[w:United States v. Paramount Pictures, Inc.|United States v. Paramount Pictures, Inc.]]'', which forced studios and theaters to separate. By the time the split was completed in 1959, MGM was in decline due to a combination of the split, the decline of the old studio system, and the rise of television. In 1957, the same year Louis B. Mayer died, the company filed a loss for the first time ever. | ||
In 1969, Kirk Kerkorian purchased the company. However, in 1973, MGM closed its distribution offices and signed a distribution agreement with [[United Artists]] for distribution in the United States; the company also made a similar agreement with [[Cinema International Corporation|CIC]] for international distribution. In 1981, MGM purchased the failing United Artists before renaming itself MGM/UA Entertainment Co. a year later, with UA's distribution branch being renamed MGM/United Artists Distribution and Marketing (later MGM/UA Distribution Co.). MGM was also a founding partner in CIC's successor [[United International Pictures]]. On March 25, 1986, MGM/UA was purchased by Ted Turner (who temporarily renamed the company MGM Entertainment Co.), but after a large amount of debt, Turner sold it back on August 26, keeping the pre-1986 MGM library. MGM was then renamed MGM/UA Communications Co. In 1990, it became '''MGM-Pathé Communications Co.''' after Giancarlo Parretti purchased the company and merged it with Pathé Communications (not to be confused with [[Pathé|the French studio]], as the company originally intended to buy the studio). Due to lawsuits, it was sold back to Kerkorian yet again and the company became Metro-Goldwyn-Mayer in 1992. In 2000, MGM broke off its international distribution agreement with UIP and instead signed with [[20th Century Studios|20th Century Fox]] to take over international distribution rights for MGM's films. On April 8, 2005, a consortium led by [[Sony Group Corporation|Sony]]'s American branch bought the company. | In 1969, Kirk Kerkorian purchased the company. However, in 1973, MGM closed its distribution offices and signed a distribution agreement with [[United Artists]] for distribution in the United States; the company also made a similar agreement with [[Cinema International Corporation|CIC]] for international distribution. In 1981, MGM purchased the failing United Artists before renaming itself MGM/UA Entertainment Co. a year later, with UA's distribution branch being renamed MGM/United Artists Distribution and Marketing (later MGM/UA Distribution Co.). MGM was also a founding partner in CIC's successor [[United International Pictures]]. On March 25, 1986, MGM/UA was purchased by Ted Turner (who temporarily renamed the company MGM Entertainment Co.), but after a large amount of debt, Turner sold it back on August 26, keeping the pre-1986 MGM library. MGM was then renamed MGM/UA Communications Co. In 1990, it became '''MGM-Pathé Communications Co.''' after Giancarlo Parretti purchased the company and merged it with Pathé Communications (not to be confused with [[Pathé|the French studio]], as the company originally intended to buy the studio). Due to lawsuits, it was sold back to Kerkorian yet again and the company became Metro-Goldwyn-Mayer in 1992. In 2000, MGM broke off its international distribution agreement with UIP and instead signed with [[20th Century Studios|20th Century Fox]] to take over international distribution rights for MGM's films. On April 8, 2005, a consortium led by [[Sony Group Corporation|Sony]]'s American branch bought the company. | ||
In 2009 and 2010, MGM suffered financial problems | In 2009 and 2010, MGM suffered financial problems and filed for Chapter 11 bankruptcy on November 3, 2010. After escaping from bankruptcy on December 20, Spyglass executives Gary Barber and Roger Birnbaum became co-CEOs and co-chairs of the company. Birnbaum left on October 3, 2012, and Barber was fired in March 2018. For much of the 2010s, much of MGM's output was produced with and/or distributed by [[Columbia Pictures|Columbia]], [[Paramount Pictures|Paramount]], [[Universal Pictures|Universal]], or [[Warner Bros. Pictures]] in all territories outside of the Nordics, Israel, Central Europe, and the Middle East. In 2017, MGM signed an agreement with [[Annapurna Pictures]] to distribute titles from both parties in the US, with third-party titles being released under the Mirror banner. MGM also signed an agreement with Universal that same year to handle the international distribution of MGM titles. In 2019, the partnership became known as [[United Artists Releasing]] and [[Orion Pictures]]' distribution staff was added to the venture. | ||
On May 26, 2021, online shopping company Amazon announced its intention to acquire MGM for $8.45 billion, a deal that was finalized on March 17, 2022. On August 15, 2022, MGM announced a new distribution agreement with Warner Bros. for international markets outside of North America (including China), which excluded two titles from Orion (except Canada) and the 26th ''Bond'' film, which will be retained by Universal. As part of the deal, Warner Bros. will take over home video rights in all regions. | On May 26, 2021, online shopping company Amazon announced its intention to acquire MGM for $8.45 billion, a deal that was finalized on March 17, 2022. On August 15, 2022, MGM announced a new distribution agreement with Warner Bros. for international markets outside of North America (including China), which excluded two titles from Orion (except Canada) and the 26th ''Bond'' film, which will be retained by Universal. As part of the deal, Warner Bros. will take over home video rights in all regions. | ||
The current company and studio location are located in Beverly Hills, California. MGM owned a more well-known set of studios in Culver City from 1925 until 1986 | The current company and studio location are located in Beverly Hills, California. MGM owned a more well-known set of studios in Culver City from 1925 until 1986 when the backlot was sold to [[Lorimar-Telepictures]]; the lot is now owned by Sony and is known as Sony Pictures Studios. | ||
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