Ken Schapiro’s move from COO to the new gig — which MGM says is a promotion — likely will fuel the speculation that CEO Gary Barber is inching closer to a decision to take the studio public. Schapiro joined as COO in 2011 and Barber says that he’s “thrilled we will continue to work together moving MGM into its next phase and guiding the strategic direction of the company.” He did not name a replacement for the COO job. In July 2012 MGM filed a draft registration at the SEC for an IPO, but has largely kept mum about the subject since then. “MGM is in a very strong position and we continue to study all of our options,” Barber told debt holders in November. With his extensive background in Hollywood finance, Schapiro has the background to help shape strategy, with or without an IPO. He was involved with “all of the company’s financing transactions,” MGM says, as well as debt restructuring, its recent $75M stock repurchase, investments in new media, and the 2012 divestiture of the company’s overseas channels. He also oversaw MGM’s home video campaign for the 50th anniversary of the James Bond franchise. Before joining the studio, Schapiro co-founded investment management company Qualia Capital, and was COO of Artisan Entertainment — helping to turn around the video distributor and merge it with Lionsgate.
MGM Taps Ken Schapiro To Be Chief Strategic Officer
What's Hot on Deadline
'Show Dogs' Getting Re-Cut By Global Road In Response To Concerns Over Inappropriate Sex Abuse Message
'Outlander's Sam Heughan Joins Vin Diesel In Sony's 'Bloodshot'; Eiza Gonzalez, Michael Sheen Also Aboard
Jason Bateman Apologizes To Jessica Walter Over 'Arrested Development' Interview Comments: "I Was Wrong Here"
ABC Answers Michael Jackson Estate's Claim That Network Didn't Secure Rights For Special On Late Singer - Update
'Game Of Thrones' Maestro George R.R. Martin Gets In Business With Warner Bros. Animation: Studio To Adapt Author's 'The Ice Dragon'
Latest Business News
- Crime Writer Lisa Scottoline Signs Six-Book Deal With Putnam
- Donald Trump Jumps At Chance To Cancel Summit, Beating Kim Jong-un To Punch
- Donald Trump Responds To James Comey’s “Facts Matter” Tweet On ‘Fox & Friends’
- Donald Trump Suggests Deporting Kneeling NFL Players After New Policy Revealed
- Stephen Colbert Takes Viewers Down Donald Trump’s FBI Conspiracy Theory Rabbit Hole
- Abrams Artists Agency Ups Jade Sherman To VP On Digital Team