MGM expects to be public company in 3-5 years

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Metro-Goldwyn-Mayer expects to be a publicly traded company within five years, Chief Executive Officer Gary Barber said during a May 12 investors presentation.

“We envision in the next three to five years, within that period, to be a public structure so that we can unlock the value of this great company,” Barber said.

Barber was asked why wait for as long as five years.

MGM chief Gary Barber

MGM chief Gary Barber

“We’re really in the early stages of our growth,” the CEO said. “We still have to go and achieve some of the growth areas…before we take ourselves into a public structure.”

Barber became CEO when MGM emerged from a 2010 bankruptcy. MGM came out of bankruptcy a smaller studio and it currently doesn’t have the resources to release its own films.

As a result, MGM strikes deals with other studios to release MGM films, such as the now-concluded two picture deal where Sony Pictures co-financed and released Skyfall and SPECTRE. MGM has yet to reach an accord with either Sony or other studios to release Bond 25.

MGM controls half the 007 franchise, along with Danjaq LLC, parent company of Eon Productions.

A 4:58 excerpt of the presentation was uploaded to MGM’s investors relations page.

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4 Responses

  1. Hey man, before i’m heading to bed, tonight i’ve reporting on Metro-Goldwyn-Mayer and how it’s future will look like in Part 1 of MGM Watch News and Information:

    https://ukidents.wordpress.com/2016/05/13/mgm-watch-news-and-information-part-1/

  2. […] wants to be a publicly held company in the next three to five years. Presumably, MGM’s interest in the 007 franchise will be a selling point if and when that […]

  3. […] At this point, MGM doesn’t have a studio partner for Bond 25 after Sony’s most recent two-picture 007 deal expired with SPECTRE.  MGM intends to sell stock to the public within three to five years. […]

  4. […] In 2016, MGM said it intended to sell stock to the public in three to five years. […]

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