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- In 1924, movie theater magnate Marcus Loew had a problem. He had bought Metro Pictures Corporation in 1919 for $3 million, to provide a steady supply of films for his large Loew's Theatres chain. However, he found that his new property only provided a lackluster assortment of films.
en.wikipedia.org/wiki/Metro-Goldwyn-Mayer
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In 1920, Loew purchased Metro Pictures Corporation. A few years later, he acquired a controlling interest in the financially troubled Goldwyn Picture Corporation which at that point was controlled by theater impresario Lee Shubert .
Metro-Goldwyn-Mayer was founded on April 17, 1924, and has been owned by the Amazon MGM Studios subsidiary of Amazon since 2022. MGM was formed by Marcus Loew by combining Metro Pictures, Goldwyn Pictures and Louis B. Mayer Pictures into one company.
Attracted by the new popularity of moving pictures, Loew owned a chain of nickelodeons by 1905, and thereafter he acquired many leading theatres for combined vaudeville and motion-picture exhibition. In 1920 Loew’s, Inc., purchased a production company named Metro Pictures Corporation; and in 1924 the Goldwyn Pictures Corporation, from which ...
It all began with Marcus Loew of Loew's, Inc., one of the nation's largest theater chains, and his 1919 purchase of Metro Pictures to help fill his theaters with a steady flow of quality motion pictures. By 1924 Loew was disappointed in both the quality and quantity of Metro's films.
- The Early Days of MGM and United Artists
- The Emergence of Sound and Other Innovations
- A Postwar Change of Fortune
- The 1981 Merger
- More Troubles, New Leaders
- Another New Owner, New Identity
- Further Reading
United Artists Corporation (UA) began in 1919 as a partnership between Mary Pickford, Charlie Chaplin, Douglas Fairbanks, and D. W. Griffith, four of the biggest names in motion pictures at the time. With the widespread disillusionment that followed World War I, motion pictures became a welcome source of escapist entertainment. America's fascinatio...
The introduction of sound revolutionized the motion picture industry and brought the downfall of silent-screen stars who were unwilling or unable to adjust to the new technology. Millions were spent to upgrade film production facilities and buy new equipment for movie houses, many of which were affiliated with major studios. The sound revolution to...
With a drastic reorganization needed for UA, Pickford and Chaplin finally brought in Paul V. McNutt, former governor of Indiana, as chairman, and Frank L. McNamee as president. McNutt, however, did not have the expertise to solve UA's financial woes. Within a few months he turned over the reins to a group headed by Arthur Krim and Robert Benjamin. ...
MGM, once a major player in the production and distribution of motion pictures, was involved only peripherally in films during the 1970s. Kerkorian and his crew focused on other activities; by the end of the 1970s the MGM Grand Hotels in Las Vegas and Reno were bringing in more money than the film production unit. Over at UA, after the departure of...
In 1989 the media company Qintex Australia Ltd. agreed to acquire MGM/UA, but the questionable deal collapsed in October of that year and Qintex's owner, Christopher Skase, later disappeared amid a flurry of charges concerning financial misdeeds. While Kerkorian continued to look for a buyer, many wondered how MGM/UA would continue to fund the prod...
MGM began the new century with key deals in the realm of cable television. Building upon its existing relationship with Showtime Networks, MGM signed a deal to give the premium cable channel exclusive rights to hundreds of existing and future MGM films. The agreement also specified that the two companies would coproduce several new original series....
Balio, T., United Artists: The Company Built by the Stars, Madison: University of WisconsinPress, 1976. Bart, Peter, "Captain Kirk's Aborted Takeoff," Daily Variety, April 25, 2005, p. 2. Berg, Scott, Goldwyn: A Biography, New York: Knopf, 1989. Bergan, Ronald, The United Artists Story, New York: Crown, 1986. Block, Alex Ben, "Staying at MGM Until ...
Apr 29, 2024 · The goal of the Metro, Goldwyn and Mayer deal in April 1924 was to eliminate production overlap between the companies, pooling resources to create "more pictures and...
Sep 22, 2011 · Loew countered that he preferred to own 100% of Metro Pictures, and when Metro stockholders approved the deal the newly-minted Loew’s Incorporated at the same time purchased the Metro Pictures Corporation for $3.1 million in January 1920 (about $33.7 million in 2010 USD).
