History Creator / MetroGoldwynMayer

Metro-Goldwyn-Mayer started in 1924 with the merger of three studios, the already well-established Goldwyn Pictures Corp. and two lesser known studios (Metro Pictures Corp. and Louis B. Mayer Productions, Inc.), under the aegis of New York-based theater chain Loews, Inc.[[note]](the individual studio names [[TheArtifact kept their own slightly different typefaces on the MGM title card until the late 1950s]].)[[/note]] Mayer was installed as vice president of studio operations, and Irving Thalberg (a young producer who had gotten his start at Creator/{{Universal}}) was hired on as director of production. From the time of the merger until Thalberg's untimely death in 1936, MGM was the top studio in Hollywood, making money even during the height of the Great Depression.

Finally, a UsefulNotes/LasVegas investor named Kirk Kerkorian bought MGM in 1969, beginning a cost-cutting drive that saw MGM lose what little prestige it had left. Kerkorian, who wasn't all that interested in Hollywood at the time, mainly saw MGM as a brand he could re-use for his casinos and hotels; he started selling the studio off in pieces to make quick cash. MGM's props department was opened up and sold at auction, and its backlots were sold to housing developers. MGM filmed fewer and fewer movies at their Culver City lot, as directors in that era started moving to location shooting and cheaper rental studios. In 1973, MGM sold its distribution division to Creator/UnitedArtists, foreshadowing the merger that would end up happening in 1981, at the time resulting in the biggest combination between major movie studios until Creator/{{Disney}}'s acquisition of Creator/TwentiethCenturyFox in 2019. By 1976, the damage was done; infamously, Kerkorian's legal counsel released a statement that year claiming that "MGM is a hotel company, and a relatively insignificant producer of motion pictures."

MGM started in 1924 with the merger of three studios, the already well-established Goldwyn Picture Co. and two lesser known studios (Metro Pictures and Louis B. Mayer Pictures), under the aegis of New York-based theater chain Loews, Inc.[[note]](the individual studio names [[TheArtifact kept their own slightly different typefaces on the MGM title card until the late 1950s]].)[[/note]] Mayer was installed as vice president of studio operations, and Irving Thalberg (a young producer who had gotten his start at Creator/{{Universal}}) was hired on as director of production. From the time of the merger until Thalberg's untimely death in 1936, MGM was the top studio in Hollywood, making money even during the height of the Great Depression.

In 2021, after months of attempting to find a buyer at the behest of its controlling shareholder, it was announced that Creator/{{Amazon}} had agreed to buy MGM for $8.45 billion. This was Amazon's second-largest acquisition, behind its $13.7 billion purchase of Whole Foods in 2017. MGM will continue to operate as a label (though it remains to be seen if it will absorb Amazon's existing studio, Creator/AmazonStudios, in the process), while Amazon will gain access to MGM's vast catalog of 4,000+ films and 17,000+ television shows for its Creator/PrimeVideo service. The move was seen as a defensive move by Amazon, who has been struggling as of late to catch up with Creator/{{Netflix}} and Creator/DisneyPlus[=/=]Creator/{{Hulu}} in terms of mainstream appeal (despite boasting 175 million users as of April 2021, little of their programming showed up on Nielsen's top 10 streaming charts). MGM had also seen their potential suitors narrowed over the last few years, with all of them dealing with merger and acquisition frenzies of their own and further tightening antitrust scrutiny (not to mention the UsefulNotes/CoronavirusPandemic-induced recession making them financially weary of pursuing further expansion); Amazon, with its multi-faceted conglomeration, revenue streams and comparatively smaller production operations, was the only credible suitor left. [[https://deadline.com/2022/03/amazon-mgm-merger-1234981037/ The deal officially closed on March 17, 2022,]] with Amazon promising that films would either go to theaters or onto Prime Video on a case-by-case basis. That same year, MGM announced that it would break-off its international agreement with Universal and instead sign with Warner Bros. for international rights, excluding two titles from Orion (except Canada) and the 26th Bond film.

In 2021, after months of attempting to find a buyer at the behest of its controlling shareholder, it was announced that Creator/{{Amazon}} had agreed to buy MGM for $8.45 billion. This was Amazon's second-largest acquisition, behind its $13.7 billion purchase of Whole Foods in 2017. MGM will continue to operate as a label (though it remains to be seen if it will absorb Amazon's existing studio, Creator/AmazonStudios, in the process), while Amazon will gain access to MGM's vast catalog of 4,000+ films and 17,000+ television shows for its Creator/PrimeVideo service. The move was seen as a defensive move by Amazon, who has been struggling as of late to catch up with Creator/{{Netflix}} and Creator/DisneyPlus[=/=]Creator/{{Hulu}} in terms of mainstream appeal (despite boasting 175 million users as of April 2021, little of their programming showed up on Nielsen's top 10 streaming charts). MGM had also seen their potential suitors narrowed over the last few years, with all of them dealing with merger and acquisition frenzies of their own and further tightening antitrust scrutiny (not to mention the UsefulNotes/Covid19Pandemic-induced recession making them financially weary of pursuing further expansion); Amazon, with its multi-faceted conglomeration, revenue streams and comparatively smaller production operations, was the only credible suitor left. [[https://deadline.com/2022/03/amazon-mgm-merger-1234981037/ The deal officially closed on March 17, 2022,]] with Amazon promising that films would either go to theaters or onto Prime Video on a case-by-case basis. That same year, MGM announced that it would break-off its international agreement with Universal and instead sign with Warner Bros. for international rights, excluding two titles from Orion (except Canada) and the 26th Bond film.

* ''Literature/ATaleOfTwoCities'' (1935)