Metro Goldwyn Mayer announced strong results for the first quarter of 2014, although the revenue and earnings are down from the same period one year ago when the results of the Bond movie Skyfall were blowing up their bottom line. The studio also announced that Ken Schapiro is departing as chief strategic officer after playing a key role in restructuring the company following its exit from bankruptcy nearly three years ago. Shapiro said he was leaving by his own choice for family reasons. MGM CEO Gary Barber said, “I will miss his counsel and daily friendship. Having known Ken for 25 years
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- 5/15/2014
- by Alex Ben Block
- The Hollywood Reporter - Movie News
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,...
- 1/30/2014
- by DAVID LIEBERMAN, Financial Editor
- Deadline TV
MGM has promoted its longtime top legal executive Scott Packman to senior executive vp, general counsel and secretary. Separately, the studio has named Cheryl Rodman as executive vp and deputy general counsel. The moves come as MGM continues to reinvent itself after emerging from bankruptcy under the guidance of Spyglass chiefs Gary Barber and Roger Birnbaum and COO Ken Schapiro. “Scott has been an integral part of our new management team providing his knowledge of our business and vast experience from his 10-year tenure at MGM," Schapiro said in a statement. "We are thrilled he will be taking
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- 5/14/2012
- by Matthew Belloni
- The Hollywood Reporter - Movie News
MGM said today that it has tapped veteran Steve Hendry for the role of Sevp Television Operations. A part of MGM’s finance team for more than 13 years and most recently Sevp Finance, he will oversee fiscal operations and business planning for the MGM Television Group and Digital and report to TV division president Roma Khanna and MGM COO Ken Schapiro.
- 9/19/2011
- by THE DEADLINE TEAM
- Deadline TV
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