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History of MGM studio. Macy Weiser 10/16/05 Film ... In 1924 he got hired as vice
president at MGM. Despite his fragile health, Thalberg oversaw ...
MGM. You Only ... pocket. "That isn't true. I think it bothers him that Hollywood
thinks that he treated MGM as an investment toy. Not ...
... another business entity. For instance, the Merger between Sony and MGM
in 2005, Sony even took the debt from MGM. The purpose of ...
... 10, 2004 after Metro-Goldwyn-Mayer Studios (MGM) lost its case against Grokster
in the United States Court of Appeals for the 9th Circuit.1 MGM sued Grokster ...
... Singin' in the Rain pictures Produced by Metro-Goldwyn-Mayer for budget of $2.54
million, released April 10, 1952 by MGM and grossed $3.6 million, Technicolor ...
Submitted by mrsha007 on April 23, 2008
Category: American History
Words: 2476 | Pages: 10
Views: 68
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You Only Sell Thrice
By ANDREW ROSS SORKIN
as Vegas
ALEX YEMENIDJIAN, the chairman and chief executive of Metro-Goldwyn-Mayer, was sitting at his private pool outside his high-roller villa at the Bellagio Hotel and Casino here last Monday. He had just struck a $5 billion deal to sell MGM, the Hollywood studio famous for its roaring-lion mascot and film franchises including James Bond, to Sony and a group of investors after an agonizingly long auction.
But he wasn't interested in talking about the deal. He wanted to discuss why he never wanted to sell the company in the first place and why his boss, the elusive billionaire Kirk Kerkorian, who controls MGM and has now bought and sold the studio three times since 1969, did not especially want to give it up, either.
"There is a perception out there that Kirk is a seller if somebody gives him a good price," said Mr. Yemenidjian, cutting a 007-like figure in a double-breasted blue blazer with a yellow silk handkerchief protruding from the breast pocket. "That isn't true. I think it bothers him that Hollywood thinks that he treated MGM as an investment toy. Not one time did either Kirk or the board tell me, 'I want you to clean this company up and prepare it for sale.' Not once."
Mr. Yemenidjian, 48, has been dogged by his reputation as MGM's flipper in chief ever since Mr. Kerkorian installed him as its boss in 1999. Back then, the company was beaten and battered, written off as a has-been, a debt-laden stepchild of the studio that once produced films like "Gone With the Wind" and "The Wizard of Oz." And when Mr. Yemenidjian arrived on the scene, he was a virtual unknown in Hollywood. If anything, he was considered Mr. Kerkorian's henchman, an accountant by training whose experience was in deal making, not movie making.
Yet within five and a half years, Mr. Yemenidjian (pronounced yem-ma-NEED-jee-an) turned around the business by drastically scaling back the...
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