February 2, 2005
Metro-Goldwyn-Mayer Studios, Inc. (abbreviated MGM, MGM/UA or M-G-M, also known as Metro-Goldwyn-Mayer Pictures, or Metro-Goldwyn-Mayer) is an American media company, involved primarily in the production and distribution of feature films and television programs. It is the current parent of United Artists.
In 1986, Ted Turner's Turner Broadcasting System acquired MGM from Kirk Kerkorian. Due to concerns over the debt load of his companies, that same year, Turner was forced to sell MGM back to Kerkorian after approximately only 74 days of ownership. However, Turner kept much of MGM's film and television library made prior to May 1986, that includes MGM cartoons, as well as some of the United Artists library, and formed Turner Entertainment. However, some of WB's old monogram films were not part of the 1986 acquisition and some remain with MGM.
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