The new division, MGM Home Entertainment Productions, plans to release 12 or more projects a year and has earmarked a new instalment in the 2002 police thriller Dark Blue to be written by John Herzfeld, and a remake of the 1977 supernatural thriller Audrey Rose to be written by Andrea Meyer.
Spin-off Legally Blondes will be written by Chad and Dara Creasey and will star British twins Camilla and Rebecca Rosso as cousins of Elle Woods, the character made famous by Reese Witherspoon.
The slate continues with Jeremy Slater's horro-thriller Pet and Alexander Vesha's action title Angelmaker, as well as the figure skating title Cutting Edge 3, and a new version of the black comedy Dead Like Me.
MGM is also preparing sci-fi adventure Species: The Awakening and Wargames: The Dead Code. Two films based on the Stargate franchise will go before the cameras, starting on Apr 15 with Stargate: The Ark Of Truth and Stargate: Continuum set for May 15.
'We're targeting today's savvy media consumer who demands quality video entertainment regardless of where that entertainment experience takes place,' Jason Weiss, vice president of the new division, said.
'By leveraging film and television franchises, which have already proven to be popular with specific targeted demographic groups, we're able to both continually replenish our library while also maximising revenues from our existing film and television programming.'