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Stephen D Silbert

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BUSINESS
July 19, 1988 | NINA J. EASTON, Times Staff Writer
Every time controlling shareholder Kirk Kerkorian rearranges the pieces of MGM/UA Communications, high-ranking executives fall out. On Monday, Lee Rich, the company's chairman and chief executive, became the latest Kerkorian casualty when he announced his own decision to quit his $1.7-million-a-year post.
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BUSINESS
December 8, 1992 | JAMES BATES, TIMES STAFF WRITER
Metro-Goldwyn-Mayer Inc. and its owner, the French bank Credit Lyonnais, sued billionaire Kirk Kerkorian on Monday for a combined $1.25 billion, alleging that Kerkorian left the historic studio in financial shambles when he sold it in 1990. In separate lawsuits filed in U.S. District Court in Los Angeles, the bank and the studio allege that Kerkorian and four other defendants concealed MGM's cash-flow problems when he sold it to Italian financier Giancarlo Parretti.
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BUSINESS
December 8, 1992 | JAMES BATES, TIMES STAFF WRITER
Metro-Goldwyn-Mayer Inc. and its owner, the French bank Credit Lyonnais, sued billionaire Kirk Kerkorian on Monday for a combined $1.25 billion, alleging that Kerkorian left the historic studio in financial shambles when he sold it in 1990. In separate lawsuits filed in U.S. District Court in Los Angeles, the bank and the studio allege that Kerkorian and four other defendants concealed MGM's cash-flow problems when he sold it to Italian financier Giancarlo Parretti.
BUSINESS
July 19, 1988 | NINA J. EASTON, Times Staff Writer
Every time controlling shareholder Kirk Kerkorian rearranges the pieces of MGM/UA Communications, high-ranking executives fall out. On Monday, Lee Rich, the company's chairman and chief executive, became the latest Kerkorian casualty when he announced his own decision to quit his $1.7-million-a-year post.
BUSINESS
September 19, 1986
MGM/UA Communications, which resulted from the recent rejoining of MGM to United Artists, has named to its board five more persons who had been MGM directors before Turner Broadcasting owned MGM for several months this year. They are Cary Grant, Willie D. Davis, Edward A. Horrigan Jr., Arthur G. Linkletter and Kenneth L. Trefftzs. The board was thereby increased to 14 members, according to Lee Rich, chairman and chief executive.
BUSINESS
September 13, 1991
Stephen D. Silbert, former vice chairman of MGM-Pathe Communications Co., will rejoin his former law practice partners on next week when he becomes "of counsel" at Christensen, White, Miller, Fink & Jacobs. Silbert, 49, was a partner in the firm of Wyman, Bautzer, Kuchel & Silbert until he left in 1985 to join financier Kirk Kerkorian at MGM. He served as president of MGM/UA Communications until Kerkorian sold the studio to Giancarlo Parretti.
BUSINESS
January 3, 1986 | AL DELUGACH, Times Staff Writer
MGM UA Entertainment is postponing its planned Jan. 21 special stockholders meeting approval of a merger into Turner Broadcasting System, a spokesman for MGM UA controlling shareholder Kirk Kerkorian confirmed Thursday. Coincidentally, MGM's shares fell $1.375 to close at $22.50 Thursday in New York Stock Exchange composite trading. MGM UA itself made no immediate comment or announcement. However, Kerkorian spokesman Stephen D.
BUSINESS
October 10, 1988 | DONALD WOUTAT, Times Staff Writer
Kirk Kerkorian brought in the investment bankers Sunday as his latest management team at MGM/UA Communications Co., naming Merrill Lynch executive Jeffrey C. Barbakow as chairman, president and chief executive of the entertainment firm. Barbakow, 44, and two lieutenants from Merrill Lynch Capital Markets will apply their financing talents to MGM/UA's recently announced plan to raise $200 million as part of another restructuring plan, the company said.
BUSINESS
July 24, 1985 | AL DELUGACH, Times Staff Writer
Kirk Kerkorian, majority shareholder of MGM/UA Entertainment Co. and MGM Grand Hotels Inc., said Tuesday that he has picked Los Angeles lawyer Stephen D. Silbert to head a new holding company in which the financier plans to consolidate all of his business interests. The announcement came at a time when the publicly traded MGM movie and gambling concerns say they have been approached by potential buyers for all or part of their assets.
BUSINESS
April 19, 1991 | JOHN LIPPMAN and MICHAEL CIEPLY, TIMES STAFF WRITERS
MGM-Pathe Communications Co. has told a federal judge in Los Angeles that $365 million of its bonds will become immediately due if an involuntary bankruptcy petition against the studio is not dismissed by May 28. The financially troubled studio also disclosed that $69 million of a new $145-million loan expected from Credit Lyonnais, its principal lender, will be used to pay overdue bills. The payments would leave the company only $76 million to help fund ongoing operations.
BUSINESS
March 8, 1986 | MARYLOUISE OATES, Times Staff Writer
Financier Charles W. Knapp has been negotiating with cable entrepreneur Ted Turner to purchase the historic MGM Studios in Culver City, one of Knapp's attorneys confirmed Friday. Veteran entertainment industry lawyer Greg Bautzer said: "I arranged a meeting with Mr. Knapp and Mr. Turner about a month ago. We have been in discussions and negotiations ever since." However, Bautzer added, "nothing has been concluded."
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