Metro-Goldwyn-Mayer Studios: Difference between revisions
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===Background=== | ===Background=== | ||
[[Metro Pictures Corporation]], founded in 1915 by Richard Rowland and Louis B. Mayer, started by distributing films before Mayer left to form his own company. After several years of independent operation under Rowland, theater magnate Marcus Loew acquired Metro Pictures in 1920. Seeking better content for his theaters, Loew merged Metro Pictures with [[Goldwyn Pictures]] and eventually acquired Mayer's company in 1924, forming | [[Metro Pictures Corporation]], founded in 1915 by Richard Rowland and Louis B. Mayer, started by distributing films before Mayer left to form his own company. After several years of independent operation under Rowland, theater magnate Marcus Loew acquired Metro Pictures in 1920. Seeking better content for his theaters, Loew merged Metro Pictures with [[Goldwyn Pictures]] and eventually acquired Mayer's company in 1924, forming '''Metro-Goldwyn-Mayer''' ('''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 an agreement with [[United Artists]] for distribution of its films in the United States; the company made a similar agreement with [[Cinema International Corporation]] 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, he 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]], which Parretti attempted to buy but failed due to French governmental concerns over his business background). Due to lawsuits, it was sold back to Kerkorian yet again, and the company reverted back to the Metro-Goldwyn-Mayer name in 1992. In 2000, MGM broke off its international distribution agreement with UIP and signed with [[20th Century Studios|20th Century Fox]] for it to take over international distribution rights for its films. On April 8, 2005, a consortium led by [[Sony]]'s American branch bought the company. | In 1969, Kirk Kerkorian purchased the company. However, in 1973, MGM closed its distribution offices and signed an agreement with [[United Artists]] for distribution of its films in the United States; the company made a similar agreement with [[Cinema International Corporation]] 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, he 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]], which Parretti attempted to buy but failed due to French governmental concerns over his business background). Due to lawsuits, it was sold back to Kerkorian yet again, and the company reverted back to the Metro-Goldwyn-Mayer name in 1992. In 2000, MGM broke off its international distribution agreement with UIP and signed with [[20th Century Studios|20th Century Fox]] for it to take over international distribution rights for its films. On April 8, 2005, a consortium led by [[Sony]]'s American branch bought the company. | ||