Acquisition of Metro-Goldwyn-Mayer Completed
MGM Names New Senior Management Team
Metro-Goldwyn-Mayer Inc. is an independent, privately-held motion picture, television, home video, and theatrical production and distribution company. The company owns the world's largest library of modern films, comprising approximately 4,000 titles, and over 10,400 episodes of television programming. Its film library has received 208 Academy Awards, one of the largest award winning collections in the world, and includes numerous successful film franchises, including James Bond, Pink Panther and Rocky. MGM is owned by an investor consortium comprised of Sony Corporation of America, Providence Equity Partners, Texas Pacific Group, Comcast Corporation and DLJ Merchant Banking Partners. For more information, visit www.mgm.com.
Sony Corporation of America, based in New York City, is the U.S. subsidiary of Sony Corporation, headquartered in Tokyo. Sony is a leading manufacturer of audio, video, communications, and information technology products for the consumer and professional markets. Its music, motion picture, television, computer entertainment, and online businesses make Sony one of the most comprehensive entertainment companies in the world. Sony's principal U.S. businesses include Sony Electronics Inc., Sony Pictures Entertainment, Sony Computer Entertainment America Inc., and a 50% interest in Sony BMG Music Entertainment, one of the largest recorded music companies in the world. Sony recorded consolidated annual sales of over $72 billion for the fiscal year ended March 31, 2004, and it employs 162,000 people worldwide. Sony's consolidated sales in the U.S. for the fiscal year ended March 31, 2004 were $20.4 billion. For more information see www.sony.com.
Providence Equity Partners Inc. is one of the world's leading private investment firms specializing in equity investments in media and communications companies. The principals of Providence Equity manage funds with over $9 billion in equity commitments and have invested in more than 80 companies operating in over 20 countries since the firm's inception in 1991. Current and previous areas of investment include cable television content and distribution, wireless and wireline telephony, publishing, radio and television broadcasting and other media and communications sectors. Significant investments include VoiceStream Wireless, Warner Music Group, PanAmSat, AT&T Canada, eircom plc, Casema, Kabel Deutschland, Language Line, F&W Publications, ProSiebenSat.1, and Bresnan Broadband Holdings. The firm has offices in Providence, New York and London. Visit www.provequity.com for additional information.
Texas Pacific Group is one of the world's leading private investment firms managing over $15 billion in assets. TPG invests across a wide range of industries, and has made significant investments in branded consumer franchises (Burger King, Beringer Wines, Del Monte, Ducati), leading retailers (Petco, J.Crew, Debenhams-UK), media and communications (Eutelsat, Findexa, TIM Hellas, Hotwire), healthcare (Oxford Health Plans, Iasis, Quintiles Transnational), technology companies (ON Semiconductor, MEMC, Seagate), and airlines (Continental, America West), among others. The firm is based in Fort Worth, Texas, and has additional offices in San Francisco and London.
Comcast Corporation (Nasdaq: CMCSA, CMCSK)(http://www.comcast.com) is the nation's leading provider of cable, entertainment and communications products and services. With 21.5 million cable customers and 7 million high-speed Internet customers, Comcast is principally involved in the development, management and operation of broadband cable networks and in the delivery of programming content.
The Company's content networks and investments include E! Entertainment Television, Style Network, The Golf Channel, Outdoor Life Network, G4, AZN Television, TV One and four Comcast SportsNets. The Company also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.
DLJ Merchant Banking Partners is a leading private equity investor that has a 20-year record of investing in leveraged buyouts and related transactions across a broad range of industries. Since 1985, DLJMB has invested more than $9 billion in more than 140 portfolio companies. DLJMB is the largest business within CSFB's Alternative Capital Division ["ACD"], CSFB's dedicated alternative asset platform. ACD is one of the industry's leading alternative asset managers, with more than $38 billion of assets under management, including $21 billion of private equity assets across a diverse family of funds, including leveraged buyout funds, mezzanine funds, real estate funds, venture capital funds, fund of funds and secondary funds, and more than $17 billion of other alternative assets through its hedge fund (both direct and fund of funds), leveraged loan and CDO investment programs.
Sony Corporation of America
Ann Morfogen (media)
Mack Araki (media)
Lisa Gephardt (media)
Justin Hill (Sony investors)
Sony Pictures Entertainment
Susan Tick (media)
Providence Equity Partners
Texas Pacific Group
Owen Blicksilver (media)
D'Arcy Rudnay (media)
Marlene Dooner (Comcast investors)
DLJ Merchant Banking Partners