The studio took on additional debt as a series of owners took charge in the 1980s and early 1990s. It also incurred significant amounts of debt to increase production. MGM ramped up internal production, and kept production going at UA, which was continuing to thrive, particularly with the lucrative James Bond film franchise. Kerkorian did, however, commit to increased production and an expanded film library when he bought United Artists in 1981. The studio continued to produce five to six films a year that were distributed through other studios, usually United Artists. Three years later, an increasingly unprofitable MGM was bought by Kirk Kerkorian, who slashed staff and production costs, forced the studio to produce low-quality, low-budget fare, and then ceased theatrical distribution in 1973. In 1966, MGM was sold to Canadian investor Edgar Bronfman Sr., whose son Edgar Jr. It was slow to respond to the changing legal, economic, and demographic nature of the motion picture industry during the 1950s and 1960s and although its films often did well at the box office, it lost significant amounts of money throughout the 1960s. MGM was the last studio to convert to sound pictures-nonetheless, from the end of the silent film era through the late 1950s, it was the dominant motion picture studio in Hollywood. As of 2023, its major film franchises include Rocky and James Bond, while its most recent television productions include Fargo and The Handmaid's Tale. In October 2023, Amazon Studios absorbed MGM Holdings and rebranded itself as Amazon MGM Studios. In May 2021, Amazon acquired MGM for $8.45 billion the deal closed in March 2022. After Barber's departure in 2018, the studio sought to be acquired by another company to pay its creditors. Two former executives at Spyglass Entertainment, Gary Barber and Roger Birnbaum, became co-chairmen and co-CEOs of MGM's new holding company. After reorganization, it emerged from bankruptcy later that year under its creditors' ownership. In 2010, MGM filed for Chapter 11 bankruptcy protection and reorganization. Finally, in 2004, Kerkorian sold MGM to a consortium that included Sony Pictures. 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. 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. In 1980, the studio acquired United Artists. 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 1969, businessman and investor Kirk Kerkorian bought 40% of MGM and dramatically changed the operation and direction of the studio. It divested itself of the Loews movie theater chain and, in 1956, expanded into television production. Its most prosperous era, from 1926 to 1959, was bracketed by two productions of Ben Hur. MGM also owned film studios, movie lots, movie theaters and technical production facilities. 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 was formed by Marcus Loew by combining Metro Pictures, Goldwyn Pictures and Louis B. Founded on April 17, 1924, and based in Beverly Hills, California, it is owned by the Amazon MGM Studios subsidiary of Amazon. (also known as Metro-Goldwyn-Mayer Pictures, commonly shortened to MGM), is an American media company specializing in film and television production and distribution. Made in China.Metro-Goldwyn-Mayer Studios, Inc. Need help? We have the answers to all your product and templates questions. Big Tab dividers are a big help in organization. Larger tabs and inserts allow you to use bigger fonts or more lines of text on each insert. Slide in or remove inserts easily with easy-access notch. Unique tab indent point design keeps inserts from falling out. Avery Wizard for Microsoft Word or Windows: Save time with this step-by-step guide. Avery Templates for Microsoft Word: Download a template for easy formatting and printing. Avery Design & Print Online: Customize and print online easily with PC or Mac systems. Free templates at /templates (avery.ca/templates in Canada). Secure indent point keeps inserts from falling out.
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