Metro-Goldwyn-Mayer Facts for Kids

Quick facts for kids
Metro-Goldwyn-Mayer Inc.
Type	Owned by Providence Equity Partners (29%) TPG Capital, L.P. (formerly Texas Pacific Group) (21%) Sony Corp. of America (20%) Comcast Corporation (20%) Credit Suisse (7%) Quadrangle Group (3%)
Industry	Motion pictures
Founded	April 16, 1924
Headquarters	Los Angeles, California, US (Metro-Goldwyn-Mayer Studios, Inc.: Santa Monica, California, US)
Key people	Harry E. Sloan (Chairman and CEO)
Products	Motion pictures Television programs
Number of employees	1,440 (as of 2004)
Parent	Loews Corporation (1924–1959) Metro-Goldwyn-Mayer, Inc. (1959–1980) Metro-Goldwyn-Mayer Film Co. (1980–1981) MGM/UA Entertainment Co. (1981–1986) Turner Broadcasting System (1986) MGM/UA Communications Co. (1986–1990) MGM-Pathé Communications Co. (1990–1992) Crédit Lyonnais (1992–1997) Tracinda Corporation (1997–2005) MGM Holdings, Inc. (2005–present)

The Wizard of Oz

Metro-Goldwyn-Mayer, Inc., often called MGM, is an American company that makes movies and TV shows. It was founded on April 16, 1924. On April 8, 2005, a group of companies, including Sony and Comcast, bought MGM.

The company's name comes from three older companies that joined together in 1924. These were Metro Pictures, Samuel Goldwyn Productions, and Louis B. Mayer Productions.

MGM's Golden Age
- Making Movies and Cartoons
- Changes in the Movie Business
MGM in Later Years
Famous Movies
Images for kids
See also

MGM's Golden Age

From the 1920s until World War II, MGM was the biggest movie studio in Hollywood. It earned more money than any other studio.

Making Movies and Cartoons

When MGM was at its busiest, it made about one movie every week. The studio also created many short films and cartoons. By the mid-1930s, MGM had 4,000 employees. Its large studio lot covered 117 acres and had 23 Sound stages. In 1939, MGM's total value was about $144 million USD.

Changes in the Movie Business

In the 1940s, the studio started to face problems. Fewer people were going to movie theaters. Also, television was becoming popular, drawing people away from movies.

In 1948, a Supreme Court decision stopped movie studios from owning their own theaters. This changed how MGM and other studios worked.

MGM in Later Years

In the late 1960s and 1970s, MGM sold off much of its property. This included its British studios and MGM Records.

MGM and United Artists

In 1981, Kirk Kerkorian, a major owner of MGM, bought another company called United Artists. In 1983, MGM and United Artists joined to form MGM/UA Entertainment.

On August 7, 1985, Turner Broadcasting System announced it would buy MGM/UA. Turner wanted MGM's large collection of old movies and TV shows for its TV channel. As part of the deal, Turner sold United Artists back to Kerkorian. After this, MGM and UA became just brand names under a new company called MGM/UA Communications Co. in late 1986.

Selling the Studio Lot

In late 1986, Turner Broadcasting System split into two companies. Turner continued to release the older MGM movies and TV shows on video. Turner also sold the MGM studio lot for $190 million to another company.

New Owners and Challenges

In 1990, a person named Giancarlo Parretti bought MGM/UA for $1.2 billion. He combined his company with MGM and called it MGM-Pathé Communications.

However, Parretti faced legal problems and could not pay his debts. His financial backer, Crédit Lyonnais, took over the company. The company's name was changed back to Metro-Goldwyn-Mayer Inc. Later, US bankruptcy laws made Crédit Lyonnais sell MGM. Kirk Kerkorian bought it again for $1.3 billion.