MGM (Metro-Goldwyn-Mayer)

Who owns MGM?
MGM is wholly owned by Amazon.com, Inc. Amazon acquired MGM in March 2022 for approximately $8.45 billion. Amazon is publicly traded on NASDAQ under ticker AMZN.

Is MGM publicly traded?
No, MGM is not publicly traded as a separate entity. It is a wholly-owned subsidiary of Amazon. Investors can gain indirect exposure to MGM through Amazon (NASDAQ: AMZN) shares.

When was MGM founded?
MGM was founded on April 17, 1924, when theater chain owner Marcus Loew merged Metro Pictures, Goldwyn Pictures, and Louis B. Mayer Pictures to create one of Hollywood's most powerful studios.

What franchises does MGM own?
MGM's key franchises include James Bond (007), Rocky/Creed, The Pink Panther, Legally Blonde, Robocop, and Poltergeist, among others. The James Bond franchise is produced in partnership with Eon Productions, controlled by the Broccoli/Wilson family.

Why did Amazon buy MGM?
Amazon acquired MGM primarily for its content library of approximately 4,000 films and 17,000 television episodes, which strengthens Amazon Prime Video's content offering. Amazon also gained MGM's ongoing film and television production capabilities, the James Bond franchise, and the MGM+ premium streaming service.

What is MGM+?
MGM+ is MGM's premium cable and streaming service, formerly known as EPIX. It offers MGM's film library, original programming, and licensed content. MGM+ is available as a cable channel and as a streaming add-on through Amazon Prime Video Channels and other platforms.

MGM was founded on April 17, 1924, when theater chain owner Marcus Loew merged three film companies: Metro Pictures Corporation, Goldwyn Pictures Corporation, and Louis B. Mayer Pictures. The merger created one of Hollywood's most powerful studios, with Louis B. Mayer serving as studio head and Irving Thalberg as head of production.

During the Golden Age of Hollywood in the 1930s and 1940s, MGM was widely considered the most prestigious studio in the industry, operating under the motto "More stars than there are in heaven." The studio produced iconic films including The Wizard of Oz (1939), Gone with the Wind (co-produced with Selznick International, 1939), and Singin' in the Rain (1952). MGM's roster of contract stars included Clark Gable, Judy Garland, Spencer Tracy, Katharine Hepburn, and many others.

MGM's dominance began to wane in the 1950s and 1960s as the studio system declined, television competed for audiences, and the company faced management challenges. Louis B. Mayer was forced out in 1951, and the studio went through a series of ownership changes and strategic pivots.

In 1969, financier Kirk Kerkorian acquired a controlling interest in MGM and began selling off studio assets, including the famous MGM auction of 1970 in which costumes, props, and memorabilia from decades of film production were sold. Kerkorian used MGM's assets to fund his Las Vegas hotel ventures, eventually creating MGM Grand Hotels (now MGM Resorts International, a separate company).

MGM acquired United Artists in 1981, adding the James Bond franchise (which UA had produced since 1962) and other valuable properties to its portfolio. However, the combined company continued to struggle financially through the 1980s and 1990s.

In 2005, a consortium led by Sony Pictures Entertainment acquired MGM for approximately $5 billion. The consortium included Sony, Comcast, Providence Equity Partners, Texas Pacific Group, and DLJ Merchant Banking Partners. Despite the acquisition, MGM continued to face financial difficulties.

In November 2010, MGM filed for Chapter 11 bankruptcy protection with approximately $4 billion in debt. The company emerged from bankruptcy in December 2010 under new ownership, with creditors receiving equity in the reorganized company.

Following its bankruptcy emergence, MGM rebuilt its operations and relaunched its film production activities. The company produced films including The Hobbit trilogy (in partnership with Warner Bros.), Skyfall and Spectre (James Bond films), and the Creed franchise (Rocky spin-offs).

In May 2021, Amazon announced its agreement to acquire MGM for approximately $8.45 billion. The acquisition was reviewed by the Federal Trade Commission, which ultimately did not block it, and the deal closed in March 2022. The acquisition gave Amazon access to MGM's library of approximately 4,000 films and 17,000 television episodes, as well as ongoing production capabilities and the MGM+ streaming service.

Amazon's acquisition of MGM was reviewed by the Federal Trade Commission (FTC) under Chair Lina Khan, who had been critical of large technology company acquisitions. The FTC ultimately did not block the deal, though some consumer advocates and media critics argued that the acquisition would further concentrate media power in the hands of large technology companies.

MGM's long history includes numerous controversies related to the studio system era, including the treatment of contract players and the exploitation of child stars such as Judy Garland. These historical practices have been the subject of documentaries, books, and public discussion.

The James Bond franchise has faced ongoing discussions about representation and diversity, including the casting of female and minority actors in prominent roles and debates about the franchise's portrayal of women.