Former SBS chief Harry E Sloan named MGM CEO

MUMBAI: Harry E. Sloan, who has built three successful publicly traded media companies over the past 20 years, has taken over as the chairman and CEO of Metro-Goldwyn-Mayer Inc. (MGM).

The companies Sloan has invested in and headed include SBS Broadcasting, Lions Gate Entertainment, and New World Entertainment. Most recently, he was executive chairman of SBS Broadcasting, a leading European media company, which he founded in 1990. The sale of SBS for about $2.6 billion was completed this month.

"Harry has a superb track record in developing both content and distribution businesses and in exploiting growth opportunities in emerging technologies," said Jonathan M Nelson, who is the current chairman of MGM and chief executive officer of Providence Equity Partners, MGM's largest shareholder.

"He has a thorough understanding of MGM's business and opportunities, and we believe he is the right leader to help us build on the Company's strong foundation. Now that he has successfully completed his work at SBS, we look forward to working with him on a full-time basis as our partner in growing the business and creating value for our investors."

An official release has quoted Sloan as saying, "I plan to pursue MGM's many compelling growth opportunities in the domestic and international markets. The proliferation of digital channels and other new content delivery options is dramatically increasing the demand for the quality content MGM can provide. I look forward to working with my MGM partners and the talented MGM employees to make the company a strong player in the creative community and to grow the business significantly in the years ahead."

Sloan, a member of the MGM Board of Directors, will also invest in MGM and become part of the ownership group, which includes four private equity firms and two media companies. Ownership is currently as follows: Providence Equity Partners (29 per cent), Texas Pacific Group (21 per cent), Sony (20 per cent), Comcast (20 per cent), DLJ Merchant Banking Partners (7 per cent), and Quadrangle Group (3 per cent).

This year, MGM has co-financed and co-produced six movies with its strategic partner Sony Pictures Entertainment (SPE), including The Amityville Horror, Into the Blue and Capote. In 2006, the studio plans to produce and co-finance several movies with SPE, including new titles from the Pink Panther, Rocky and James Bond franchises. Among these, Pink Panther will be released on 10 February 2006.

Latest Reads
Arnab Goswami to lead IPL finale debate on Star Sports

MUMBAI: Prior to the IPL finale, viewers will witness an interesting debate led by Republic World co-founder, MD and editor-in-chief and TV most prolific face Arnab Goswami. The theme of the debate is who will win the world’s toughest finals? The show will see cricket experts led by team Dean...

Television TV Channels Sports
MNX launches Super League chatbot

No one can ignore India’s crazy love for cricket, including English movie channels. MNX, the new age Hollywood channel for young India launched the very innovative MNX Super League chatbot, an interactive avatar of its TV show ‘MNX Super League’ on Facebook.

Television TV Channels English Entertainment
Porus reaches 10 Asian countries

MUMBAI: Porus is travelling internationally. The mythological show being aired on Sony Entertainment Television has made its entry in Malaysia, Vietnam, Cambodia, Brunei, Laos and Myanmar through JKN Global Media and in Indonesia with Soraya Intercine Films. Porus is now being watched in 10 Asian...

Television TV Channels GECs
India News Manch - Modi Sarkar Kitni Asardaar? India News Conclave to Analyze Modi Government’s Four Years in Power

India News, known for its direct and unbiased brand of journalism, is all set to host a special conclave Manch – Modi Sarkar, Kitni Asardaar? (How Effective Has the Modi Government Been?) in New Delhi on Friday, May 25, 2018. The day-long event will present a comprehensive overview of the BJP...

Television TV Channels News Broadcasting
How relevant is the age old Lakshman Rekha in today’s times; questions &TV with Mitegi Lakshman Rekha!

Ravan’s abduction of Sita highlighted the consequences of crossing the ‘Lakshman Rekha’ for generations. However, with the talks of gender equality, women’s liberation and financial independence, amongst others, being the topic of global discussion, how relevant is this ‘Lakshman Rekha’ in today’s...

Television TV Channels GECs
Zee Anmol most watched channel across genres

BENGALURU: Zee Entertainment Enterprises Ltd (Zeel) free to air (FTA) Hindi GEC Zee Anmol has reached the realm that has been normally occupied by the Sun TV Network’s flagship Tamil GEC Sun TV or by one of the Hindi channels that has been airing the Indian Premier League. What is remarkable is...

Television TV Channels Viewership
Star India mulls adding VR to PKL 6

MUMBAI: Star India is taking the Indian Premier League (IPL) experience to other sports. After a phenomenal reception for using virtual reality (VR) in IPL 2018, it is diversifying into Pro Kabaddi League (PKL) season six.

Television TV Channels Sports
BTVI to leverage digital mediums for growth

MUMBAI: English business news channel BTVI is completing two years in August this year. The company was transformed from Bloomberg TV India after Bloomberg decided not to renew its deal with Business Broadcast News. BTVI got its COO Megha Tata in 2016 at the same time it got its new name. 

Television TV Channels News Broadcasting
Zee TV the leader amongst GECs

As per the recently released BARC HSM weekly data (Urban + Rural) for week 20 ’18, Zee TV has claimed the top position in Hindi GEC space with 316640 impressions in HSM and 199155 impressions in urban markets and saw a robust growth across its primetime fiction shows. The channel continued to be a...

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories