Rick Sands joins MGM as chief operating officer

Former DreamWorks president and chief operating officer Rick Sandshas switched studios and joined MGM as chief operating officer.

Sands, who also previously served as the Weinsteins' right handman as Miramax chief operating officer, will set about leveraging the company'sacclaimed film and television library across multiple platforms both here andabroad.

He will work with the company's strategic partners, a high-profileroster that includes Sony Corporation of America and Comcast Corporation.

Sands will also supervise MGM's finance, operations and businessaffairs. His appointment begins immediately and he will be based at thecompany's corporate headquarters in Century City in Los Angeles.

The library comprises more than 4,000 feature titles including theJames Bond and Pink Panther franchises, as well as more than 10,400 episodes oftelevision programming.

"I am thrilled to have Rick join MGM's executive leadershipteam, where we will benefit immensely from his solid experience and great trackrecord in managing and growing entertainment libraries at such leadingcompanies as DreamWorks, Miramax and Hallmark Entertainment," MGM chairman andchief executive officer Harry E Sloan said.

"Rick has a long history of working with extensive entertainmentassets and this is key to furthering the exploitation of our content."

"To be involved with MGM is a rare opportunity, having the abilityto take an existing brand and to build an even stronger content-based leadingenterprise," Sands added.

"With the sweeping changes in the distribution business, I plan tobring a unique approach to the MGM library and to create new value and content."

Sands served at DreamWorks since 2005. He joined Miramax aspresident of international in1995, rising to chairman of worldwide distribution from 1997 to 2002, andfinally chief operating officer from 2002 to 2005.

He began his entertainment career at Columbia Pictures in 1978 andjoined Miramax as executive vice president and chief executive officer in 1990,before serving at Hallmark as executive vice president and chief financialofficer from 1993 to 1995.