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MGM's Sloan signs new deal

August 05, 2008|From Times Staff and Wire Reports

Speculation that his job might be in jeopardy was dashed when Metro-Goldwyn-Mayer Studios announced that Harry Sloan had signed a new three-year deal to continue as chairman and chief executive of the struggling studio.

Sloan was hired in October 2005 after the studio was sold to an investment consortium that includes Sony Corp. of America, Comcast Corp., Providence Equity Partners and Texas Pacific Group.

Sloan recently hired former Universal Pictures movie executive Mary Parent to try to turn around MGM's box-office fortunes.

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