Word: mgm
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Dates: during 1970-1979
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...what amounts to a collage education (or reeducation) in film history. In the good old, bad old days, studios were often criticized for trying to imitate one another's successes, thereby creating tedious cycles. This time, however, the competition should be encouraged to follow Warner Brothers' lead. MGM, come on! Paramount, let's hear from you! Richard Schickel
Governor Ray is pondering Bobbie's plight. As his press secretary Dick Gelbert explains: "The Governor has no power to extend sentences; he can only commute or pardon or parole." But the publicity aroused by Bobbie's letter may eventually get him what he wants. MGM has even considered doing a movie or TV show about his life, a project Bobbie thought he would like...
...hopeful, Frederick Andresen, president of Ski Industries America, worried that a mandatory Sunday closing of gas stations may threaten 750,000 jobs and $2 billion in business. Some analysts expect sales of cameras and film to drop, because they are largely bought by vacationers. Las Vegas is still booming; MGM this week will open a new $106 million hotel. But businessmen are nervous because 65% of the gamblers arrive by car. Nevada Governor Mike O'Callaghan is trying to persuade Amtrak to provide weekend train service from Los Angeles...
Financial Oscar. Under Aubrey, MGM churned out profitable, medium-budget schlock like Skyjacked and Black Belly of the Tarantula; directors often charged him with philistine meddling, and he alienated many of them. Meanwhile, as Kerkorian's agent of austerity, Aubrey slashed employment from 6,200 to 1,200 and recently began shifting film production from the silver screen to network television series. Aubrey also sold off MGM properties including its record division, studio real estate, theaters-even Ben-Hur's chariot at a much-publicized prop auction. In September he announced that MGM would withdraw from the film...
...financial auteur, Aubrey may have deserved an Oscar. When he arrived. MGM was losing $35 million for the year, was $80 million in debt and faced a $70 million write-off from movie disasters. By fiscal 1973 the debt had been cut to $30 million and the firm earned $8.1 million in the first nine months of the year. Why, then, did Aubrey leave? For one thing, profits this year are running one-third behind last year's pace, and Kerkorian was growing impatient. Chief reasons for the falloff: MGM's recent movies (The Man Who Loved...