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BUSINESS
November 3, 2010 | Reuters
Metro-Goldwyn-Mayer Studios Inc, one of Hollywood's most storied film studios, filed for bankruptcy protection on Wednesday after struggling for years to reduce its debt load. The filing follows last week's vote by MGM creditors to put founders of Spyglass Entertainment at the company's helm, dealing a blow to Lions Gate Entertainment Corp's own merger proposal. The "pre-packaged" plan would allow MGM secured lenders including Credit Suisse Group AG and JPMorgan Chase & Co to swap more than $4 billion of debt for most of the equity in a reorganized company.
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SPORTS
April 12, 2014 | Bill Dwyre
LAS VEGAS - Last year, boxing promoter Bob Arum took a Manny Pacquiao fight to China and its rich casinos. Wednesday, he lashed out at the go-to boxing site in Las Vegas, the MGM Grand and its massive Garden Arena, with such vitriol that you might assume Top Rank Promotions and its large stable of name fighters won't be back there. Arum, furious that the bulk of the signage in the MGM Grand was not for his Saturday night headliner between Pacquiao and Timothy Bradley, but for the May 3 battle between Floyd Mayweather Jr. and Marco Maidana, was asked if this was it for him and the MGM. “Never say never,” he said.
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ENTERTAINMENT
July 31, 2012 | By Ben Fritz
Carl Icahn, who only a year ago hoped to combine two studios and create an entertainment empire, has retreated from Hollywood by selling his stake in Metro-Goldwyn-Mayer. The billionaire investor has quietly sold his approximately 25% stake in MGM, the 88-year-old studio behind the James Bond series and the upcoming "Hobbit" trilogy, back to the company in a deal worth $590 million. The move comes less than a year after Icahn sold his 33% stake in film and television studio Lions Gate Entertainment, which he originally wanted to merge with MGM. MGM agreed to pay Icahn $33.50 for each of his 17.6 million shares, according to a confidential letter sent to other stockholders and obtained by the  Los Angeles Times.
SPORTS
April 9, 2014 | Bill Dwyre
LAS VEGAS - We went to write about Manny Pacquiao versus Timothy Bradley and SignGate broke out. It was Wednesday, this was boxing, and so the anger, hatred, rips, finger-pointing and innuendo were not unexpected. Nor, if you write a sports column for a living, unwelcome. For big fights here, they always have a large press conference on Wednesday. The norm is a large stage, fighters and teams strung along each side of a podium, and a half-dozen skimpily clad Tecate girls, featuring plastic-enhanced smiles, etc. The proceedings usually go one of two ways.
ENTERTAINMENT
August 1, 2012 | By Ben Fritz
Metro-Goldwyn-Mayer has sold most of its international television channels to help generate cash to buy investor Carl Icahn's 25% stake in the studio and to focus on being a pure content company ahead of its planned initial public offering. Beverly Hills-based MGM announced Wednesday that it had sold branded networks in Spain, Turkey, Israel, Benelux (Belgium, the Netherlands and Luxembourg), Poland, India and Southeast Asia, along with a pan-European and Asian channel, to Chellomedia, an international media company that has long worked with MGM on its overseas networks.
BUSINESS
December 3, 2010 | By Ben Fritz and Claudia Eller, Los Angeles Times
After 18 months of turmoil and uncertainty, MGM has gotten a green light to start anew. A New York federal bankruptcy judge on Thursday confirmed the "prepackaged" plan by creditors to wipe out about $5 billion in debt, clearing the way for the 86-year-old entertainment company to focus its efforts on producing and releasing movies and television shows. With Thursday's ruling that the plan meets the requirements of the U.S. Bankruptcy Code, no legal obstacles remain for MGM to relaunch under Spyglass Entertainment founders Gary Barber and Roger Birnbaum.
ENTERTAINMENT
October 4, 2012 | By Ben Fritz and Nicole Sperling, Los Angeles Times
With an initial public stock offering expected by the end of the year, the historic film studio Metro-Goldwyn-Mayer's executive ranks were shaken Wednesday by the surprise resignation of co-chief executive Roger Birnbaum. The departure leaves Birnbaum's longtime partner Gary Barber as sole CEO of the Beverly Hills company, home of the upcoming James Bond film "Skyfall" and "Lord of the Rings" prequel "The Hobbit: An Unexpected Journey. " Birnbaum and Barber have been partners since 1998, when they co-founded the film finance and production company Spyglass Entertainment.
BUSINESS
October 30, 2010 | Claudia Eller and Ben Fritz, Los Angeles Times
In a major step toward ending a tortuous yearlong process to reorganize the beleaguered studio, Metro-Goldwyn-Mayer creditors have approved a plan to enter a prepackaged bankruptcy and hand over management to the chief executives of Spyglass Entertainment. The plan's passage was enabled by a surprise about-face by corporate raider Carl Icahn, according to three people close to the matter. Previously, Icahn, a major MGM debt owner, was aggressively trying to kill the Spyglass plan in favor of a merger with Lions Gate Entertainment Corp.
NEWS
February 20, 2013 | By Mary Forgione, Los Angeles Times Daily Travel & Deal blogger
Las Vegas has been "engaged in a high-stakes restaurant arms race since it welcomed Spago 20 years ago," the New York Times wrote last year of the area's eateries that brought in $8 billion in 2011. Amid all the Godzilla -sized mojitos and celebrity-chef-driven menus on the Strip, healthy fare usually isn't at the top of the list. So I was surpised to find a Healthy Eating mobile app from (drum roll) MGM Resorts International . Of course, "healthy" is a subjective term (more on that later)
BUSINESS
March 23, 2012 | By Ben Fritz, Los Angeles Times
Metro-Goldwyn-Mayer has taken back full control of its legendary film label United Artists, is booking a loss on its recent release "The Girl With the Dragon Tattoo" and has added a top TV executive to its board of directors, the independent studio revealed in financial filings this week. Formed in 1919 by film luminaries including Charlie Chaplin and Mary Pickford, UA became part of MGM in 1981. In 2006, UA became a joint venture between MGM and Tom Cruise and his producing partner Paula Wagner, who together got 30% of the company.
ENTERTAINMENT
April 7, 2014 | By Susan King, Los Angeles Times
One of the last remaining stars of Hollywood's golden era, Mickey Rooney was born to vaudeville parents, and appeared with them onstage by the age of 1. He became a star when he was signed to play the part of comic book hero Mickey McGuire in a series of successful shorts that began in 1927 with "Mickey's Circus" and ended with "Mickey's Derby Day" in 1936. But it was at MGM in the 1930s that the diminutive dynamo hit real fame, particularly with the "Andy Hardy" movie series that launched in 1937.
ENTERTAINMENT
March 26, 2014 | By Daniel Miller
MGM Holdings Inc., the parent of Metro-Goldwyn-Mayer Inc., posted fourth-quarter net income of $12.2 million, down 70% from a year earlier, when MGM had net income of $40.2 million and benefited from the release of the blockbusters "Skyfall" and "The Hobbit: An Unexpected Journey. " MGM reported revenue of $464 million in the fourth quarter, down 49% from $903 million a year earlier.  The film and television company produced two films that were released during the quarter that ended Dec. 31. It co-produced and co-financed "The Hobbit: The Desolation of Smaug" with Warner Bros.' New Line Cinema unit.
IMAGE
February 17, 2014 | By Vincent Boucher, Special to the Los Angeles Times
At the 1960 Academy Awards, all eyes were on Doris Day, lead actress nominee for "Pillow Talk," who glittered in a silvery sheath. The gown was actually a costume borrowed from Day's next picture, the lush Ross Hunter thriller "Midnight Lace," which would nab costume designer Irene Lentz her second Oscar nomination the following year. But after cycling through a Hollywood career - starting out as a Mack Sennett extra and rising to be head of costume at MGM following Adrian - by 1960, Lentz was only freelancing in films for stars such as Day. Lentz's clientele was much, much wider - she was dressing fashionable women across the country in Irene, her line of structured suiting and bias silk soufflé gowns that she started with the backing of tony stores like Bergdorf Goodman and Neiman Marcus after leaving MGM in the late 1940s.
CALIFORNIA | LOCAL
January 18, 2014 | By David G. Savage and Maura Dolan
WASHINGTON - The California-based 9th U.S. Circuit Court of Appeals is known for progressive rulings that champion individual rights over government and corporations, but when it comes to show business, the "Hollywood Circuit" - as it has been dubbed - stands accused of routinely siding with the home-turf entertainment industry. Judges famously sided with film studios in the early 1980s when the studios sued Sony for infringing their copyrights by selling the Betamax video recorders.
ENTERTAINMENT
November 16, 2013 | By Susan King
Angela Lansbury first attended the Academy Awards at Grauman's Chinese Theatre on March 15, 1945. Just 19, she was nominated for supporting actress for her role as a conniving Cockney maid in "Gaslight. " And now, nearly seven decades later, the 88-year-old legend is winning her first Oscar. On Saturday evening, Lansbury will receive an honorary Oscar at the Academy of Motion Picture Arts and Sciences' fifth Governors Awards at the Ray Dolby Ballroom at the Hollywood & Highland Center.
ENTERTAINMENT
November 15, 2013 | By Ryan Faughnder
Ending a copyright dispute that has lasted more than 50 years, Metro-Goldwyn-Mayer Inc. and Danjaq LLC. have acquired all the rights and interests related to the debonair super-spy James Bond.  MGM, the longtime distributor of the Bond movies, and Danjaq, the franchise's producer, reached a settlement with the estate of Kevin McClory, who collaborated with 007 author Ian Fleming on the script for the movie "Thunderball. " Terms of the settlement were not disclosed, but the companies said it brought the copyright saga to an "amicable conclusion.
ENTERTAINMENT
November 15, 2013 | By Ryan Faughnder
Ending a copyright dispute that has lasted more than 50 years, Metro-Goldwyn-Mayer Inc. and Danjaq LLC. have acquired all the rights and interests related to the debonair super-spy James Bond.  MGM, the longtime distributor of the Bond movies, and Danjaq, the franchise's producer, reached a settlement with the estate of Kevin McClory, who collaborated with 007 author Ian Fleming on the script for the movie "Thunderball. " Terms of the settlement were not disclosed, but the companies said it brought the copyright saga to an "amicable conclusion.
ENTERTAINMENT
January 31, 2013 | By Joe Flint
After the coffee. Before remembering to record the "30 Rock" finale.  The Skinny: I know I'm in the minority but I want the new BlackBerry. Yes, while everyone else lines up for iPhones, I cling to my BlackBerry because I need the keypad! Today's headlines include stories on the renewal of "How I Met Your Mother," MGM getting some new financing and Katie Couric's talker getting a second season. Daily Dose: As Al Gore makes the rounds to promote a new book, he keeps saying he sold Current TV because he found the independent news/talk channel couldn't compete against big media companies.
ENTERTAINMENT
November 14, 2013 | By Daniel Miller
MGM Holdings Inc., the parent of Metro-Goldwyn-Mayer Inc., on Thursday reported third-quarter net income of $16.6 million, buoyed by the strong performance of "Skyfall" and  “The Hobbit:  An Unexpected Journey" on home entertainment platforms.  The privately held film and television company said in a filing on its website that it had posted revenue of $242.9 million for the three-month period that ended Sept. 30 -- an increase of 43% over the $169.3 million taken in during the same quarter in 2012.  Net income was down 29% from the $23.4-million profit the company posted a year earlier.
NATIONAL
October 29, 2013 | By Matt Pearce
Cirque du Soleil and casino-hotel MGM Grand failed to protect the safety of performers and workers when an aerialist fell to her death during a Las Vegas show this year, Nevada safety officials said Thursday. The Cirque show “Ka” was nearing its finale June 29 when Sarah Guillot-Guyard, 31, a seven-year Cirque veteran known as Sassoon, plummeted  into a pit in front of a shocked audience . Killed by blunt-force trauma, she was pronounced dead at a hospital. Her death was thought to be the first during a performance in Cirque's 29-year history.
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