Britannica Money (original) (raw)

Share price:

$206.84 (mkt close, Nov. 11, 2024)

Annual revenue:

$620.13 bil.

Earnings per share (prev. year):

$4.67

Sector:

Consumer Discretionary

Industry:

Broadline Retail

Metro-Goldwyn-Mayer, Inc. (MGM), American corporation that was once the world’s largest and most profitable motion-picture studio. The studio reached its peak in the 1930s and ’40s. During those years MGM had under contract at various times such outstanding screen personalities as Greta Garbo, John Gilbert, Lon Chaney, Norma Shearer, the Barrymores (Ethel, Lionel, and John), Joan Crawford, Jeanette MacDonald, Clark Gable, Jean Harlow, William Powell, Myrna Loy, Katharine Hepburn, Spencer Tracy, Judy Garland, Mickey Rooney, Elizabeth Taylor, Gene Kelly, and Greer Garson.

The corporation was formed when Marcus Loew, a film exhibitor and distributor, bought into Metro Pictures in 1920. Four years later the company merged with the Goldwyn production company. (The Goldwyn Studios in Culver City, near Hollywood, eventually became the studio headquarters of MGM.) In 1925 Louis B. Mayer Pictures joined the group, and Mayer was executive head of the studio for 25 years. In the early years Irving Thalberg (1899–1936) was the studio’s creative young producer with the authority to reedit any MGM film. The studio produced such successes as Grand Hotel (1932), David Copperfield (1935), The Good Earth (1937), The Women (1939), The Philadelphia Story (1940), Mrs. Miniver (1942), Gaslight (1944), and The Asphalt Jungle (1950). It was associated with some famous epics, producing both versions of Mutiny on the Bounty (1935, 1962) and Ben-Hur (1925, 1959) and acting as a major financer and the sole distributor of David O. Selznick’s Gone with the Wind (1939). It produced such popular series as the “Thin Man,” “Andy Hardy,” “Topper,” “Maisie,” “Dr. Kildare,” “Our Gang,” and “Lassie.” MGM, however, became especially celebrated for its lavish musicals, including The Wizard of Oz (1939), Ziegfeld Girl (1941), Meet Me in St. Louis (1944), Till the Clouds Roll By (1946), Easter Parade (1948), On the Town (1949), Annie Get Your Gun (1950), Show Boat (1951), An American in Paris (1951), Singin’ in the Rain (1952), The Band Wagon (1953), Kiss Me Kate (1953), Silk Stockings (1957), and Gigi (1958).

MGM began to decline in the 1950s and underwent a series of management changes beginning in the 1960s. The studio’s later productions included Doctor Zhivago (1965) and 2001: A Space Odyssey (1968). The studio sold off many of its assets in the 1970s and for a time diversified into such nonfilm ventures as hotels and casinos. From 1973 on, MGM had various financial associations with another motion-picture studio, United Artists Corporation.

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