MGM President to Exit After Nine Months

Metro-Goldwyn-Mayer Inc., the movie studio acquired last year by a group that included Sony Corp. and Texas Pacific Group, said President Daniel Taylor would step down Tuesday after about nine months on the job.

Taylor had two stints totaling 15 years with the company and was named president upon its acquisition in April.

In October, the company named board member Harry Sloan as chairman and chief executive and said he would invest an undisclosed sum in MGM.