Word: mgm
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...more than two years, New Jersey Real Estate Tycoon Philip J. Levin, 58, tried to topple the management of one of the biggest U.S. movie companies, Metro-Goldwyn-Mayer, Inc. He spent $11,480,000 for MGM stock, eventually bought or controlled 720,000 shares, or 14.3% of the total. He put out at least $800,000 to finance two bitter but unsuccessful proxy fights...
Last week Levin headed toward the nearest exit. "I was in the position," he explained, "where I could only move sideways or backwards." Therefore, he and his associates sold their 720,000 shares of MGM. Of that total, 420,000 were bought at $59 a share by the youthful (38) president of Joseph E. Seagram & Sons, Ltd., Edgar M. Bronfman, in a personal transaction. The remaining 300,000 shares were acquired, at the same price, by Time...
Levin's point in his proxy battles was that the management of MGM under President Robert H. O'Brien had been lax. As he saw it, the company that has Leo the Lion as its emblem too often roared, then sat down. Actually, Levin lost the proxy fights because most stockholders agreed that Leo had become more and more leonine...
...most popular single film property in the history of U.S. television is MGM's 1939 The Wizard of Oz. When it was first presented on CBS-TV in 1956, Oz attracted 35 million viewers; last February the annual showing reached 44.6 million. Over the years, Oz has captured an average 53%~of all sets in use at the time (30% is considered high...
...such surefire fare, CBS has been paying MGM a bargain rate of $200,000 for each replay. When the network's option finally ran out this year, bidding understandably leaped somewhere over the rainbow. MGM asked for $1,000,000 per showing, almost the same rate as the record $2,300,000 it received from ABC this year for the first two TV reruns of Marlon Brando's Mutiny on the Bounty...