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| Name | Metro Goldwyn Mayer (1986-2009) |
| Video Uploader | Video From Blú Ball Animations |
| Upload Date | This Video Uploaded At 30-11-2021 12:00:39 |
| Video Discription | MGM all started with three small companies. Metro Pictures Corporation was founded in late 1915 by Richard A. Rowland (1880-1947) and Louis B. Mayer (1885-1957). The company started out distributing films made by Solax Studios but Mayer left soon after operations began to form his own company in 1918. Richard Rowland would continue to produce a number of films in New York City; Fort Lee, New Jersey; and in Los Angeles. Dissatisfied with Metro's output following his purchase of the studio, Loew later purchased 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 his company, Louis B. Mayer Productions, to Loew for $75,000 (Around $1.17 million adjusted for inflation). The merger between the three studios was completed on April 17, 1924, with the three studios becoming Metro-Goldwyn-Mayer, Inc., or simply MGM. With Mayer serving as head of the studio Metro-Goldwyn-Mayer became one of the major players in the Golden Age of Hollywood and was part of the "Big Five" studios alongside Paramount Pictures, RKO Radio Pictures, 20th Century Fox and Warner Bros. Pictures. 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 United States v. Paramount Pictures, Inc. forcing studios and theaters to separate. By the end of the 1950s, MGM was in decline due to a combination of the split from Loews, 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. In 1981, MGM purchased the failing United Artists and in 1982, was renamed MGM/UA Entertainment Co. On March 25, 1986, MGM/UA was purchased by Ted Turner (temporarily renaming the company MGM Entertainment Co.), but after a large amount of debt, sold it back on August 26, keeping the pre-1986 MGM library. MGM was then renamed to MGM/UA Communications Co. Then 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 the well-known French studio). Due to lawsuits, it was sold back to Kerkorian yet again and the company became Metro-Goldwyn-Mayer in 1992. On April 8, 2005, a consortium led by Sony bought the company. During 2009-2010, MGM had financial difficulties and filed for Chapter 11 bankruptcy on November 3, 2010. After escaping from bankruptcy on December 20, 2010, Spyglass executives Gary Barber and Roger Birnbaum became co-CEOs and co-Chairs. Birnbaum left on October 3, 2012, and Barber was fired in March 2018. Today, much of the studio's newer output is produced with and/or distributed by Columbia, Paramount, and Warner Bros. Pictures. As of 2019, some newer releases are distributed by United Artists Releasing, the rebranding of Mirror, a joint venture between MGM and Annapurna Pictures. On May 26, 2021, online shopping company Amazon announced their intention to acquire MGM for $8.45 billion. Copyright Disclaimer under Section 107 of the copyright act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. |
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