Metro-Goldwyn-Mayers is one of the Big Five film companies and, arguably, the most prestigious. The complex history of its formation began with the establishment in 1912 of a chain of theaters by former nickelodeon and peepshow entrepreneur Marcus Loew. Needing more movie product, Loew acquired in 1920 the Metro Picture Corporation (which had been formed in 1915). Four years later, the buildup continued with the acquisition of the Goldwyn Pictures Corporation (formed in 1917) and Louis B. Mayer Pictures (formed in 1918). The new organization, Metro-Goldwyn-Mayer, was placed under the control of LOUIS B. MAYER as studio vice president and IRVING THALBERG as vice president in charge of production. The first release under this new banner was He Who Gets Slapped (1924), starring LON CHANEY and NORMA SHEARER. With talking release was a musical, Broadway Melody (1929).
Popular and prestigious pictures of the time included Greed (1924), The Big Parade (1925), Ben-Hur (1927), Flesh and the Devil (1928), Freaks (1932), Grand Hotel (1932), The Thin Man (1934), David Copperfield (1935), Mutiny on the Bounty (1936), and The Good Earth (1936). By the mid-1930s, MGM had 4,000 employees and 23 sound stages on its 117-acre lot in Culver City. Some 40 features were made each year, costing approximatelys boast that it presentedseemed justified. Luminaries included GRETA GARBO, CLARK GABLE, the Barrymores, JEAN HARLOW, JOAN CRAWFORD, SPENCER TRACY, MICKEY ROONEY, ELIZABETH TAYLOR, JUDY GARLAND, and WILLIAM POWELL. Popular series included short subjects such as the Pete Smith Specialties, the Tom and Jerry cartoons, and the Hal Roach comedies; and such features as the Andy Hardy, Tarzan, and Dr. Kildare movies. MGM also released the pictures of its British production arm, Denham Studios (under Michael Balcon), including The Citadel (1938) and Goodbye, Mr. Chips (1939); as well as numerous independently made movies, most notably Gone With the Wind (1939). A particularly noteworthy series of musicals appeared in the 1940s and early 1950s under the guidance of producers and filmmakers ARTHUR FREED, Stanley Donen, Vincente Minnelli, and Gene Kelly: Meet Me in St. Louis (1944), The Pirate (1948), On the Town (1949), An American in Parisin the Rain (1953), and Seven Brides for Seven Brothers (1955).
After 1951, many changes affected the studio. The separations parent company was forced by federal antitrust action. Following a bitter disputes president Nicholas Schenck, Mayer was forced to resign and was replaced by his former production chief, DORE SCHARY. In 1957, a substantial package of theatrical features was sold to television. More corporate turnovers ensued. In 1969, Kirk Kerkorian bought the studio and began to sell off the assets, disposing of the British studios and companies such as MGM Records. Apublic auction sold off many of the costumes and props. In 1979, MGM merged with United Artists (which henceforth distributed its product) to form MGM/UA Entertainment Company; the amalgamation produced only sporadic theatrical releases, including the successful Spaceballs (1987) and Moonstruck (1988). In 1985, Kerkorian sold the MGM film library, studio, and film lab to Atlanta entrepreneur Ted Turner for more than $1.5 billion. After a lengthy series of financial setbacks, MGM, a mere shadow of its former self, finally resettled in sunny Santa Monica, where it occupies a modern office complex called MGM Plaza. Although the site covers 1 million square feet, the new home seems insignificant when compared with its original kingdom in Culver City.
MGM is no longer a real studio in the classic sense of the word. It has no back lot, sound stages, or production facilities. When MGM wants to make a movie, it rents space at another studio. What MGM does, though, is continue to come up with financing and produce 10 to 12 movies a year (less than half of what most other studios grind out), and it owns certain bankable franchises, such as the James Bond series. During the 1980s, financial problems diminished MGM’s role in the industry as a major studio production entity. The company even preferred to focus on its hotel interests in Las Vegas. The MGM Grand Hotel includes a Wizard of Oz amusement park. The studio had a three-year period without a single success until in 1994 Stargate broke the spell. In 1995, the studio had its ups and downs. That year, MGM’s efforts included such bombs as Showgirls and Hackers, but 1995 also gave the studio a series of major hits such as JOHN TRAVOLTA’s Get Shorty, the science-fiction horror film Species, the critically acclaimed Leaving Las Vegas, and the 007 thriller Goldeneye. In 1996, MGM releases included The Birdcage, Mulholland Falls, Kingpin, and Marshal Law. The following year, 1997, was a dry one, but in 1998 MGM released the 007 hit Tomorrow Never Dies. Yet MGM had not shown a profit since 1988. In 1996, the studio lost the shocking amount of $744 million. MGM was saved once again by James Bond, its most reliable property. In 1999, the studio released another 007 adventure, The World Is Not Enough, starring Pierce Brosnan, which once again proved to be a big hit, as well as another Brosnan thriller, The Thomas Crown Affair. Further signs of MGM recovery were Stigmata (2000), Hannibal (2001), Legally Blonde (2001), and Bandits (2001).
