Production Glossary
Metro-Goldwyn-Mayer
Metro-Goldwyn-Mayer is a studio that both makes and distributes films and television shows. Established in 1924, MGM is a conglomeration put together by Marcus Loew. Loew had purchased both Goldwyn Pictures and Metro Pictures Corporation in order to ensure that a continuous flow of films would be available for his theaters to show. He could not, however, run both at the same time, so he bought Louis B. Mayer Pictures and combined all three studios.MGM’s films are a hallmark in Hollywood history. Known by its’ dignified lion, Leo, and Latin motto, “Ars Gratia Artis”, MGM set a benchmark for the competition by providing poise and glamour that the audience craved. Up through the conclusion of WWII, MGM was the leading studio in Hollywood and many found solace and fun in the motion pictures it turned out. Some of MGM’s most notable films are Gone With the Wind, Singin’ in the Rain, The Wizard of Oz, Gigi, and Ben-Hur.
MGM was not around too long before it entered its’ “Golden Age”. The 1930s and 40s are considered to be MGM’s most successful years, despite the challenges brought on by The Depression and World War II. From 1930 to 1957 MGM ran a successful cartoon division. This division is responsible for the creation of the beloved “Tom and Jerry” cartoons. During this period, MGM routinely released twenty-five to fifty films per year (the lowest after 1940 and the highest during the 30s). It was in 1930 that MGM released the very first “talkie” in full color (The Rogue Song). The 30s also saw the discovering and stardom of a number of classic movie stars, such as Joan Crawford, Jean Harlow, and Greta Garbo.
The 1940s saw the released of its’ most successful musicals with big name stars like Gene Kelly, Fred Astaire, and Judy Garland. Unfortunately, TVs began to steal audiences from the theaters, and in spite of their initial success and popularity, musicals became too expensive to produce in large numbers. By the end of the 40s and into the 50s, MGM’s profits declined along with the old studio tradition.
MGM began to release its’ major stars from their contracts in order to save money. By 1960, MGM employed no contract players. The 60s also saw MGM’s introduction in to television. The studio developed several series and began selling movie rights to network so MGM films could air on TV.
Unfortunately, from the late 60s on, MGM confronted one financial trouble after another. The company was sold numerous times, passed from one CEO to another with little success at restructuring or improving the studio’s prospects. A few of the important mergers and acquisitions are: MGM’s purchase of United Artists in 1981, a brief ownership by Ted Turner in 1986, the purchase of Metromedia’s subsidiaries in 1997, and Sony’s buyout for $5 billion in 2004. After it was purchased by Sony, MGM declared that it would become a theatrical distribution company.
For the last four years, MGM has been on the brink of bankruptcy, but as of December 20, 2010 the studio is finally in the clear.
