Desperate MGM Studios Throws Hail Mary

Mary Parent Named Chairperson, Worldwide Motion Picture Group, MGMLOS ANGELES, CA March 13, 2008 – Heralding an expansion at Metro-Goldwyn-Mayer Studios Inc. (MGM), Mary Parent, former Vice Chairman of Worldwide Production for Universal Pictures, has been named Chairperson, Worldwide Motion Picture Group at the studio. In this newly created position, Parent will be responsible for oversight of worldwide theatrical production, distribution, marketing and business affairs for MGM. Parent reports directly to Harry E. Sloan, MGM’s Chairman and Chief Executive Officer, and to the MGM Board of Directors.

… In making the announcement, Sloan stated:  “MGM is in the midst of an evolutionary process, moving from our initial revitalization effort into the next phase of growth and development. As we commence production on some of the biggest film franchises in Hollywood, we are fortunate to be able to enlist Mary to spearhead what promises to be MGM’s most exciting period yet. Her production expertise, relationships in the creative community and distribution and marketing savvy will be instrumental in confirming MGM’s position as a competitive player alongside other major Hollywood studios.”

Parent said, “I look at what Harry has strategically built and assembled — from ramping up the distribution efforts of MGM as well as breathing new life into United Artists with Tom Cruise and Paula Wagner at the helm — and I believe this studio is poised for a true re-vitalization. This comes at a great time for the business and I’m honored to have been chosen to play this role.”

During her tenure at Universal, Parent oversaw the planning, development and production of the studio’s annual slate of films.  Parent was responsible for many of the studio’s most critically acclaimed and commercially successful films and franchises: Meet The Parents, Meet The Fockers, The 40-Year-Old Virgin, Seabiscuit, The Bourne Identity, The Bourne Supremacy, The American Pie franchise as well as the Academy Award-winning Gladiator, a co-production with DreamWorks. Parent originally joined Universal in 1997 as a Senior Vice President and rose steadily through the ranks eventually becoming Vice Chairman in 2003. Since 2005, she has been partnered with Scott Stuber in an exclusive producing deal on the Universal lot. Prior to joining Universal, Parent served as Vice President of Production at New Line Cinema.  She began her career as an agent trainee at ICM.

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