On the day MGM's acquisitionby the Sony and Comcast-led consortium officially closed and most of theexisting MGM staff prepared to be let go, the company announced severaloperating practices and a slew of new appointments.
The company will releaseonly one more film - The Amityville Horror on Apr 15. Its remaining titles Into The Blue, Romance AndCigarettes, The Woods, The Pink Panther and Art School Confidentialwill go out through Sony labels this autumn.
Operating agreements betweenthe parties mean that Sony Pictures Entertainment will assume certaindistribution responsibilities for MGM's library of 4,000-plus features and10,400 television episodes.
MGM executives expect thecompany will co-finance and co-produce certain projects with SPE, which will bedistributed and marketed by SPE.
MGM content will beavailable on Comcast's VOD platform and on new cable channels operated byComcast and jointly owned by Comcast, SPE and the members of the consortium,who include Providence Equity Partners, Texas Pacific Group, and DLJ MerchantBanking Partners.
Former executive vicepresident of finance and corporate development officer Charles Cohen becomesexecutive vice president of the company, and Jim Packer is promoted fromexecutive vice president of television distribution in North America toexecutive vice president of television distribution.
Blake Thomas will serve asexecutive vice president of home entertainment distribution, moving over fromhis former role as executive vice president of worldwide marketing.
Bruce Tuchman has beenappointed to executive vice president of MGM Networks, while Travis Rutherford,formerly senior vice president of MGM's consumer products and interactive unit,becomes executive vice president of consumer products and location-basedentertainment.
"Today we begin a new,exciting chapter in the life of MGM," Dan Taylor, MGM president, said in astatement. "With our strong financial and strategic partners, we look forwardto building on MGM's exceptional legacy and capitalising on emerging technologiesand markets to provide consumers worldwide more opportunities to enjoy theworld's largest modern library of films and television programming. We lookforward to a very bright future for MGM."