MGM (Metro-Goldwyn-Mayer)
American media company operating film studios, television production, premium cable networks, and streaming services, known for iconic film franchises and entertainment properties.
Company Type
public
Founded
1924
Headquarters
Beverly Hills, California, USA
About 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.
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.
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.
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.
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.
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+ 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.
History of MGM (Metro-Goldwyn-Mayer)
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.
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MGM (Metro-Goldwyn-Mayer) Ownership: Pros & Cons
Advantages
- +Amazon ownership provides virtually unlimited financial resources for film and television production
- +Library of approximately 4,000 films and 17,000 television episodes is a significant and valuable asset
- +James Bond franchise is one of the most valuable intellectual properties in entertainment
- +Integration with Amazon Prime Video provides global distribution to hundreds of millions of subscribers
- +MGM+ provides a dedicated premium streaming and cable platform for MGM content
Considerations
- -MGM operates as a subsidiary with limited independence, subject to Amazon's strategic priorities
- -The James Bond franchise requires ongoing partnership with Eon Productions/Broccoli family, limiting Amazon's control
- -Film production is inherently risky, with individual films capable of generating large losses
- -Competition for streaming subscribers is intense, with Netflix, Disney+, and others investing heavily in content
- -MGM's historical brand identity may be diluted by integration into Amazon's broader content strategy
Frequently Asked Questions About 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.
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