Word: mgm
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What the movie business needs, everyone agrees, is a new blockbuster. That is what it got last week, but this one was not another Star Wars. It was the purchase by MGM of United Artists from Transamerica Corp. for $380 million...
Central casting has sent the moneymen to help direct the entertainment industry's new wave. They are businessmen who have earned their fortunes in other fields and are now conquering Hollywood. Examples: MGM's Kirk Kerkorian, a onetime airline financier, and Denver Oilman Marvin Davis, who liquidated his energy holdings in order to buy 20th Century...
...acquisition makes sense for both sides. United Artists seemed the odd man out in Transamerica's financial services company. Heaven's Gate had demoralized the firm and caused a management shakeup. MGM was attracted to UA because it owns a library of about 2,000 old films that can be sold to cable TV. MGM executives also want to control United Artists' worldwide distribution network, since they will now collect the distributor's 30% cut of their movies' gross ticket sales. Says Merrill Lynch Vice President Harold Vogel: "The merger means MGM will...
After a long period of corporate confusion, Kerkorian divided his holdings into two parts last year. He spun off his hotel and gambling interests, which include the MGM Grand in Las Vegas, into a separate company called MGM Grand Hotels Inc., and his movie properties into MGM Film Co. It was shortly after the two MGM companies were split that a fire took 84 lives last November at the MGM Grand...
Hollywood called in the early 1940s, and Horne answered, eventually winding up in the office of MGM's Louis B. Mayer. She made it clear to him that she did not want to play maids, the usual role for black women then, but no one on the Culver City lot could think of any other part for a beautiful and talented woman with Horne's pigmentation. They finally decided that she was light enough to pass for a Latin. Horne insisted that she was dark enough to be what she was, a black. Perplexed, the studio bosses...