LOS ANGELES, March 13 /PRNewswire/ -- Heralding an expansion at
Metro-Goldwyn-Mayer Studios Inc. (MGM), Mary Parent, former Vice Chairman
of Worldwide Production for Universal Pictures, has been named Chairperson,
Worldwide Motion Picture Group at the studio. In this newly created
position, Parent will be responsible for oversight of worldwide theatrical
production, distribution, marketing and business affairs for MGM. Parent
reports directly to Harry E. Sloan, MGM's Chairman and Chief Executive
Officer, and to the MGM Board of Directors.
(Logo: http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGO)
This move signals a big step forward in re-establishing MGM as a major
Hollywood studio with a commitment to develop, produce and release a full
slate of motion pictures annually.
Since joining MGM in October 2005, Sloan has been orchestrating a
strategic game plan that began with revitalizing MGM's domestic theatrical
distribution operation. This was followed by the mid-2006 rebuilding of
MGM's worldwide TV operations along with its worldwide video distribution
in a partnership with Twentieth Century Fox. In November of 2006, another
important milestone was achieved with the rebirth of United Artists, which
will continue to be operated independently by Tom Cruise and Paula Wagner,
as a new source of product and franchises and backed by a $500 million
production facility from Merrill Lynch. By the end of 2007, MGM navigated
the way and announced two important movies with Peter Jackson based on THE
HOBBIT.
With that accomplished, MGM's next step to complete this strategy is to
bring in the best creative executives, starting with Parent, to oversee
studio development, production and marketing, leveraging MGM's enormous
library and proven entertainment franchises into a fully operating
production studio.
In making the announcement, Sloan stated: "MGM is in the midst of an
evolutionary process, moving from our initial revitalization effort into
the next phase of growth and development. As we commence production on some
of the biggest film franchises in Hollywood, we are fortunate to be able to
enlist Mary to spearhead what promises to be MGM's most exciting period
yet. Her production expertise, relationships in the creative community and
distribution and marketing savvy will be instrumental in confirming MGM's
position as a competitive player alongside other major Hollywood studios."
Parent said, "I look at what Harry has strategically built and
assembled -- from ramping up the distribution efforts of MGM as well as
breathing new life into United Artists with Tom Cruise and Paula Wagner at
the helm -- and I believe this studio is poised for a true re-vitalization.
This comes at a great time for the business and I'm honored to have been
chosen to play this role."
MGM is planning an exciting fall and winter release schedule. In
partnership with Sony Pictures Entertainment, MGM will bring new
installments of two of its tentpole franchises -- the new James Bond movie
QUANTUM OF SOLACE and Steve Martin in PINK PANTHER 2. MGM will also release
United Artists' international thriller VALKYRIE, starring Tom Cruise on
October 3. With the appointment of Parent, MGM will enter its new phase of
evolution by focusing on its major movie franchises highlighted by JAMES
BOND and PINK PANTHER sequels, THE HOBBIT, THOMAS CROWN AFFAIR 2, THE OUTER
LIMITS, ROBOCOP, DEATH WISH and FAME, among others.
During her tenure at Universal, Parent oversaw the planning,
development and production of the studio's annual slate of films. Parent
was responsible for many of the studio's most critically acclaimed and
commercially successful films and franchises: MEET THE PARENTS, MEET THE
FOCKERS, THE 40-YEAR-OLD VIRGIN, SEABISCUIT, THE BOURNE IDENTITY, THE
BOURNE SUPREMACY, THE AMERICAN PIE franchise as well as the Academy Award
winning GLADIATOR, a co-production with DreamWorks. Parent originally
joined Universal in 1997 as a Senior Vice President and rose steadily
through the ranks eventually becoming Vice Chairman in 2003. Since 2005,
she has been partnered with Scott Stuber in an exclusive producing deal on
the Universal lot. Prior to joining Universal, Parent served as Vice
President of Production at New Line Cinema. She began her career as an
agent trainee at ICM.
About Metro-Goldwyn-Mayer Inc.
Metro-Goldwyn-Mayer Inc., through its operating subsidiaries, is
actively engaged in the worldwide production and distribution of motion
pictures, television programming, home video, interactive media, music and
licensed merchandise. The company owns the world's largest library of
modern films, comprising around 4,100 titles. Operating units include
Metro-Goldwyn-Mayer Studios Inc., Metro-Goldwyn-Mayer Pictures Inc., United
Artists Films Inc., Ventanazul, MGM Television Entertainment Inc., MGM
Networks Inc., MGM Domestic Networks LLC, MGM Distribution Co, MGM
International Television Distribution In, Metro-Goldwyn-Mayer Home
Entertainment LLC, MGM ON STAGE, MGM Music, MGM Worldwide Digital Media,
MGM Consumer Products and MGM Interactive. In addition, MGM has ownership
interests in international TV channels reaching nearly 120 countries. MGM
ownership is as follows: Providence Equity Partners (29%), TPG (21%), Sony
Corporation of America (20%), Comcast (20%), DLJ Merchant Banking Partners
(7%) and Quadrangle Group (3%). For more information, visit
http://www.mgm.com.
CONTACT: Jeff Pryor
Executive Vice President/Corporate Communications
Metro-Goldwyn-Mayer Inc.
e. jpryor@mgm.com; o. 310-449-3446
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