LOS ANGELES, Oct. 5, 2017 /PRNewswire/ -- MGM Holdings Inc. (MGM) announced today the extension of Gary Barber's contract as Chairman and Chief Executive Officer of the operating company through December 2022.
Today, MGM produces and distributes film and television content globally across all platforms, controls one of the world's deepest libraries of film and television content and owns the premium pay television network, EPIX. Since joining MGM in 2010, Barber has overseen the transformation of the studio, revitalized its film and television businesses and expanded its distribution footprint across traditional and digital platforms.
Commenting on Barber's contract extension, Kevin Ulrich, Chief Executive Officer of Anchorage Capital Group, L.L.C. and newly appointed Chairman of MGM's Board of Directors said, "Gary is a dynamic leader and during the past seven years, MGM has regained its prominence as a leading entertainment company. He has developed a focused, strategic vision, which combined with a strong financial discipline, has positioned MGM for future growth and innovation. We have every confidence he will continue to lead this company in an exemplary fashion."
Barber stated, "MGM has a great legacy and leading this tremendous organization has been among the most rewarding experiences of my career. Kevin and the Board's support have been invaluable as we continue to execute on the company's strategic initiatives. I am also very proud of the world-class team we have here at MGM, whose passion, creativity and contributions cannot be overstated. I look forward to working with them to drive the company to new heights."
As MGM has significantly expanded its film and television content pipeline, it has also invested in enhancing its global distribution capabilities to drive additional value from original, acquired and library content. This year, MGM completed the $1.2 billion acquisition of EPIX, the premium pay television network founded by MGM, Viacom and Lionsgate, relaunched Orion Pictures as a new stand-alone U.S. theatrical marketing and distribution company and generated continued growth and expansion of its wholly owned and joint venture television channels and multi-cast networks.
MGM, along with co-rights owner and partner, Danjaq, are stewards of the James Bond franchise, one of the longest running film franchises in history. Under Barber's tenure, the Bond franchise reached record numbers with Skyfall, which grossed over $1.1 billion at the global box office. Bond 25, the next installment in this evergreen franchise, will return to U.S. theaters on November 8, 2019. The film will be produced by Michael G. Wilson and Barbara Broccoli.
Metro-Goldwyn-Mayer (MGM) is a leading entertainment company focused on the production and global distribution of film and television content across all platforms. The company owns one of the world's deepest libraries of premium film and television content as well as the premium pay television network EPIX, which is available throughout the U.S. via cable, satellite, telco and digital distributors. In addition, MGM has investments in numerous other television channels, digital platforms and interactive ventures and is producing premium short-form content for distribution. For more information, visit www.mgm.com.
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SOURCE MGM Holdings Inc.