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Media & Entertainment

March 27, 1993|From Times Staff and Wire Reports

MGM Posts Loss for 1992: Metro-Goldwyn-Mayer said it will report a $271.1-million loss for 1992, compared to a $347.4-million deficit in 1991. The Culver City-based studio, repossessed nearly a year ago by the French bank Credit Lyonnais from Italian financier Giancarlo Parretti, is trying to re-establish itself after years of uncertainty under Parretti and previous owner Kirk Kerkorian. MGM had gone dormant for two years while Kerkorian tried to sell it. MGM said its operating loss was reduced substantially during 1992, falling to $86.5 million from $176.2 million in 1991.

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