MGM Holdings
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| Type | Holding company[1] |
|---|---|
| Industry | Film |
| Founded | February 11, 2005[2][3] |
| Headquarters | Beverly Hills, California, United States |
| Key people | Ann Mather Gary Barber Roger Birnbaum |
| Products | Motion pictures Television programs |
| Website | http://www.mgm.com/ |
MGM Holdings Inc. is a Delaware-registered pure holding company and the parent company of the American media company Metro-Goldwyn-Mayer Inc. Through this holding company, MGM creditors own the Hollywood studio.[4] Its headquarters are in Beverly Hills, California.[5]
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History[edit]
The holding company, MGM Holdings, was formed on February 11 2005,[2] by a Sony-led consortium; and on April 8, 2005, it acquired MGM in a US$4.8 billion leveraged buyout. From that period until its emergence from bankruptcy on December 20 2010, it was owned by Providence Equity Partners (29%), TPG Capital (formerly Texas Pacific Group) (21%), Sony Corporation of America (20%), Comcast (20%), DLJ Merchant Banking Partners (7%), and Quadrangle Group (3%).[6]
Following the emergence from bankruptcy, MGM's secured lenders which included Credit Suisse and JPMorgan Chase jointly own the company. The holding company owns MGM Holdings II Inc., which in turn owns the Hollywood studio - Metro-Goldwyn-Mayer Studios Inc.[4][7][8] In December 2010, MGM named Spyglass partners Gary Barber and Roger Birnbaum as the co-Chairs and co-CEOs of the studio; and also appointed Ann Mather, the ex-Pixar CFO to head MGM's new board of directors.[9] On December 29 2010, MGM signed a new lease with New York-based group George Comfort & Sons for a 6-story building in the corner of 235–269 N. Beverly, leaving its old headquarters in Century City.[10]
On July 31, 2012, MGM announced a deal with Carl Icahn, MGM’s largest shareholder, to acquire his stake in MGM Holdings for US$590 million. The deal allowed MGM to set a market value of US$2.4-US$3 billion for the studio, in case it went public or sold to a strategic investor.[11][12]
Assets[edit]
Metro-Goldwyn-Mayer Studios Inc. operates as a subsidiary of Metro-Goldwyn-Mayer Inc., and directly or indirectly owns and controls the following group companies.
Film Production/Distribution and Home Entertainment[edit]
- Metro-Goldwyn-Mayer Pictures Inc.
- United Artists Corporation
- Orion Pictures Corporation
- MGM Home Entertainment Distribution Corporation
Television[edit]
- MGM Television Entertainment Inc.
- MGM International Television Distribution
- MGM Networks Inc.
- MGM Channel (MGM HD)
- THIS Network LLC (Joint venture with Weigel Broadcasting)
- Epix (Joint venture with Viacom & Lions Gate Entertainment)
Other assets[edit]
- Metro-Goldwyn-Mayer Animation Inc.
- Metro-Goldwyn-Mayer Music Inc.
- MGM On Stage
- MGM Consumer Products
- MGM Interactive
See also[edit]
References[edit]
- ^ "MGM Studios: Corporate Info". Retrieved 2010-04-22.
- ^ a b MGM Disclosure Statement page 424 (Appendix D: Audited Financial Statement. March 2009, page 6), October 7, 2010
- ^ Eyman, Scott. Lion of Hollywood: The Life and Legend of Louis B. Mayer. New York: Simon and Schuster, 2005. ISBN 0-7432-0481-6
- ^ a b "MGM Files for Chapter 11 Bankruptcy". 3 November 2010. Retrieved 24 September 2012.
- ^ "2011 Q3 Financial Report and Supplemental Information (Revised November 11, 2011)." Metro-Goldwyn-Mayer. Retrieved on February 18, 2012."
- ^ Sony Consolidated Financial Statements for the year ended March 31, 2008
- ^ "MGM Holdings II Inc Info". Retrieved Jan 05, 2012.
- ^ MGM Holdings Voluntary PetitionMGM Voluntary Petition
- ^ MGM Sets Ex-Pixar CFO Ann Mather To Head New Board of Directors, deadline.com
- ^ Official: MGM Moving Into Office Building Once Intended For William Morris Agency, deadline.com
- ^ "Los Angeles Business" Icahn sells MGM stake for $590 million bizjournals.com, Retrieved on August 3, 2012
- ^ "MGM Said to Plan a Buyout of Icahn’s Stake". 31 July 2012. Retrieved 24 September 2012.
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