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Marcus Loew (/ l oʊ / LOW; [1] May 7, 1870 – September 5, 1927) [2] was an American business magnate and a pioneer of the motion picture industry who formed Loew's Theatres and the Metro-Goldwyn-Mayer film studio (MGM).
Metro-Goldwyn-Mayer Studios Inc. (also known as Metro-Goldwyn-Mayer Pictures, commonly shortened to MGM) [1] is an American media company specializing in film and television production and distribution based in Beverly Hills, California. [2]
To provide films for his theaters, Loew founded Metro-Goldwyn-Mayer (MGM) in 1924, by merging the earlier firms Metro Pictures, Goldwyn Pictures, and Louis B. Mayer Productions. Loew's Incorporated served as the distribution arm and parent company for the studio until the two were separated by the 1948 U.S. Supreme Court ruling United States v ...
Louis B. Mayer defined MGM, just as MGM defined Hollywood, and Hollywood defined America", writes biographer Scott Eyman. [ 38 ] Placed in his proper perspective, he was probably the greatest single force in the development of the motion picture industry who brought it to the heights of prosperity and influence it finally attained.
Under Parretti's control, MGM released almost no films (one victim being the James Bond franchise, the planned production of the seventeenth Bond film, Property of a Lady [13] [14] [15]), while Parretti enjoyed a Hollywood mogul lifestyle. He fired most of the accounting staff and appointed his 21-year-old daughter to a senior financial post.
MGM Holdings was formed by a Sony-led consortium on February 11, 2005, [1] and acquired MGM on April 8 in a US$4.8 billion leveraged buyout. [6] From that period until its emergence from bankruptcy on December 20, 2010, MGM Holdings was owned by Providence Equity Partners (29%), TPG Inc. (21%), Sony Corporation of America (20%), Comcast (20%), DLJ Merchant Banking Partners (7%), and Quadrangle ...
Burnett was born on 17 July 1960 in London, the only child of Archie and Jean Burnett, both Ford Motor factory workers, [10] and was raised in Dagenham, Essex.His father was a Roman Catholic Glaswegian and his mother was a Presbyterian; it is not known in which denomination he was raised.
By the middle of the decade, the price of MGM shares was sagging and stockholders were growing restive. On December 14, 1955, Arthur M. Loew, the son of Marcus Loew, succeeded Nicholas Schenck as the company's president, although Schenck remained chairman of the board. The following year, when Arthur Loew resigned for health reasons, Schenck ...