Kirk Kerkorian, mogul who affected 007 films, dies

Kirk Kerkorian

Kirk Kerkorian

Kirk Kerkorian, a business mogul whose ownership of Metro-Goldwyn-Mayer affected the James Bond film series, died Monday night at 98, according to obituaries in THE NEW YORK TIMES and THE WALL STREET JOURNAL.

Kerkorian bought and sold MGM three times between 1969 and 2004, according to the Journal’s obit. During his first stint as MGM’s owner, the studio acquired United Artists in 1981.

UA was the original studio that released the James Bond films produced by Eon Productions. UA ended up controlling half the franchise when Eon co-founder Harry Saltzman sold out in 1975 because of personal financial problems.

Eon’s relationship with MGM wasn’t as close as the one it enjoyed with UA. For one thing, MGM always seemed to be in the middle of financial restructurings that adversely affected the 007 film series.

Ted Turner bought MGM in the mid-1980s, a deal financed with debt, and ended up selling the studio back to Kerkorian while Turner kept MGM’s film library for his cable networks. That library ended up with Time Warner, the parent company of Warner Bros., after it acquired Turner’s company in the 1990s.

Kerkorian sold MGM again in 1990, this time to Italian financier Giancarlo Parretti. Eon in 1991 filed a lawsuit, objecting to television rights sales for the Bond films conducted under Parretti.

The lawsuit was a major reason the six-year hiatus for 007 movies between 1989 and 1995. A settlement was reached in 1993 (CLICK HERE to view a UPI.com story with details).

Still, the hiatus was a contributing factor to the end of Timothy Dalton’s two-picture reign as 007.

John Calley, a new UA executive, reportedly wanted to replace Dalton. Dalton announced he was leaving the role, paving the way for Pierce Brosnan to start a four-picture run as Bond from 1995 to 2002.

Kerkorian became MGM’s owner yet again in 1996, purchasing the studio from Credit Lyonnais, which had seized MGM from Parretti after a loan default.

Kerkorian sold MGM one last time in 2005, this time to a group that included Sony. But the group’s finances crumbled and MGM went into bankruptcy in 2010, a factor in the four-year gap between Bond movies from 2008 to 2012. This time, however, Daniel Craig remained in place as Bond after MGM exited bankruptcy and 007 production resumed with 2012’s Skyfall.

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One Response

  1. All the wheeling and dealing you can handle – and then some.
    “That’s what I like best about the movie industry: the art and idealism” – Joseph Heller.

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