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Institution research

  2.  Founded: April 17, 1924  Subsidiaries: United Artists, MGM Television, Epix, This TV, MORE  Parent organizations: MGM Holdings, Metro- Goldwyn-Mayer Inc.  Founders: Louis B. Mayer, Marcus Lowe  Record label founded: MGM Records
  3.  Metro-Goldwyn-Mayer Studios Inc. is an American media company, founded in 1924, that produces and distributes feature films and television programs. It is based in Beverly Hills, California.  Marcus Lowe formed MGM by combining Metro Pictures, Goldwyn Pictures, and Louis B. Mayer Pictures into a single company. It’s slogan was "more stars than there are in heaven"—and soon became one of Hollywood’s "big five" film studios, producing popular movie musicals and winning many Oscars. The company also owned film studios, movie lots, movie theaters and technical production facilities.
  4.  Metro Goldwyn Mayer (MGM) was formed in April 1924 by theater magnate Marcus Lowe, who orchestrated the merger of Metro Pictures Corp., Goldwyn Pictures and Louis B. Mayer Productions. With visionary Louis B. Mayer and production genius Irving Thalberg at the helm, MGM, with its legendary roaring lion logo, was a powerhouse of prolific artistry and filmmaking expertise. During a golden three decades from 1924 to 1954, the Culver City-based studio dominated the movie business, famously attracting "more stars than are in the heavens" and creating a Best Picture nominee at the Academy Awards® every year for two straight decades. Historically, in 1939 two of MGM's most iconic films, Gone With the Wind and The Wizard of Oz, were both nominated for Best Picture. Gone With the Wind ultimately took home the Best Picture prize . The Wizard of Oz would go on to secure two Oscars of its own.  United Artists (UA) joined the MGM family in 1981 and quickly thrived as member of the "lion's pride." Established on July 15, 1919 by Charlie Chaplin, Mary Pickford, Douglas Fairbanks and D.W. Griffith, UA was best known as "the company built by the stars." The budding studio quickly left an indelible mark on Hollywood, revolutionizing the motion-picture business by promising creative freedom to actors and filmmakers, while offering the filmmakers a share of the film's profits.  As a company, MGM boasts more than 177 Academy Awards in its vast library. Among those are 12 Best Picture Winners. These films include; Hamlet (1948), Marty (1955), The Apartment (1960), West Side Story (1961), In the Heat of the Night (1967), Midnight Cowboy (1969), Rocky (1976), Annie Hall (1977), Platoon (1986), Rain Man (1988), Dances With Wolves (1990), The Silence of the Lambs (1991).
  5.  The studio's official motto, "Ars Gratia Artis", is a Latin phrase meaning "Art for art's sake". It was chosen by Howard Dietz, the studio's chief publicist. The studio's logo is a roaring lion surrounded by a ring of film inscribed with the studio's motto. The logo, which features Leo the Lion, was created by Dietz in 1916 for Goldwyn Pictures and updated in 1924 for MGM's use
  6.  MGM's first television program, The MGM Parade, was produced by MGM's trailer department as one of the compilation and promotional shows. Parade was canceled by ABC in the 2nd quarter of 1956.  MGM Television was started with the hiring of Bud Barry to head up the operation in June 1956. MGM Television was to distribute its films to TV (starting with the networks), TV production and purchasing TV stations. TV production was expected to start with the 1957–58 season and was to include half-hour remakes of, or series based on, its pictures. Initial feature film sales focused on selling to the networks.  In 1956, MGM sold the television rights for The Wizard of Oz to CBS. The studio was all too happy to see Oz become, through television, one of the two or three most famous films MGM has ever made, and one of the few films that nearly everybody in the U.S. has seen at least once  The year 1957 also marked the end of MGM's animation department, as the studio determined it could generate the same amount of revenue by reissuing older cartoons as it could by producing and releasing new ones. William Hanna and Joseph Barbara, by then the heads of the MGM cartoon studio, took most of their unit and made their own company, Hanna-Barbara Production, a successful producer of television animation.
  7.  mid-2009, MGM had US$3.7 billion in debt, and interest payments alone totaled $250 million a year.MGM was earning approximately $500 million a year on income from its extensive film and television library, but the economic recession is reported to have reduced this income substantially.  MGM could avoid voluntary or involuntary bankruptcy had been a topic of much discussion in the film industry. MGM had to repay a $250-million line of credit in April 2010, a $1-billion loan in June 2011, and its remaining US$2.7 billion in loans in 2012
  8.  In December 2020, MGM began to explore a potential sale of the studio, with the COVID-19 pandemic and the domination of streaming platforms due to the closure of movie theaters as contributing factors.  On May 17, 2021, online retail and technology company Amazon entered negotiations to acquire the studio. The negotiations were made directly with MGM board chairman Kevin Ulrich whose Anchorage Capital Group is a major share holder. On May 26, 2021, it was officially announced that MGM will be acquired by Amazon for $8.45 billion
  9.  MGM is a leading entertainment company focused on the production and global distribution of film and television content across all platforms. The company owns one of the world’s deepest libraries of premium film and television content.  On the TV side, MGM is an award-winning producer and global distributor of premium content for television and digital platforms and has investments in numerous other television channels, digital platforms.