Metro-Goldwyn-Mayer has tapped Harry E. Sloan for the post of chairman/CEO, the company said Oct. 24.
(The Hollywood Reporter) -- Metro-Goldwyn-Mayer has tapped Harry E. Sloan for the post of chairman/CEO, the company said Oct. 24.
Sloan, who has built three successful publicly traded media companies over the past two decades and is a member of the MGM board of directors, also will invest in MGM and become part of the ownership group, which includes four private equity firms and two media companies.
Ownership in MGM is as follows: Providence Equity Partners (29%), Texas Pacific Group (21%), Sony (20%), Comcast (20%), DLJ Merchant Banking Partners (7%) and Quadrangle Group (3%).
Sony, which will distribute MGM films, is a minority investor. Sloan has invested in and headed three media companies: SBS Broadcasting, Lions Gate Entertainment Corp. and New World Entertainment.
Most recently, he was executive chairman of SBS Broadcasting, a leading European media company, which he founded in 1990. The sale of SBS for about $2.6 billion was completed in October.