Description: RARE: MGM/UA Communications $5000 bond certificate Dated 1990 Vignette of the Lion logoStock - like bond certificateIssued and cancelled MGM/UA Entertainment MGM proceeded to return to theatrical distribution in 1981 with its purchase of United Artists, as UA's parent company Transamerica Corporation decided to jettison the studio following the huge financial debacle of Heaven's Gate (1980).[15][18][page needed] after this acquisition, Metro-Goldwyn-Mayer Film Co. was renamed "MGM/UA Entertainment Company".[25] MGM/UA sold its music publishing division to CBS Songs in 1983 with a five-year co-publishing agreement.[53] In 1981, Fred Silverman and George Reeves via InterMedia Entertainment struck a deal with the studio to produce films and TV shows.[54][55] In 1982, the company entered into a relationship with mini-major studio and film distributor The Cannon Group, Inc. whereas Cannon became part of the MGM/UA sub-distribution network, but in 1983, MGM/UA and Cannon entered a deal that MGM/UA had to distribute all future Cannon films in the North American region.[56] WarGames (1983) and Octopussy (1983) were both hits for MGM/UA, but did not push MGM into the profit range that Kerkorian wanted. MGM/UA formed a trio of subsidiaries, the MGM/UA Home Entertainment Group, MGM/UA Classics, and the MGM/UA Television Group in 1982. Kerkorian offered to purchase the remaining outstanding MGM shares he did not own to take the company private but was met with resistance.[25] After the purchase of UA, David Begelman's duties were transferred to that unit. Under Begelman, MGM/UA produced a number of unsuccessful films, and he was fired in July 1982. Out of the 11 films he put into production, only one film, Poltergeist (1982), proved to be a clear hit during his tenure with the studio.[57] Not even MGM's greatest asset – its library – was enough to keep the studio afloat.[52] After 1982, the studio relied more on distribution, picking up independent productions, rather than financing its own projects.[52] In 1984, the company had signed an eight-picture agreement with Dino De Laurentiis, with a production value of $150 million, and MGM/UA had domestic distribution for eight of the future Dino De Laurentiis film productions.[58] In 1985, MGM/UA Entertainment Co. had signed an agreement to distribute all specialized pictures produced by PSM Entertainment, with the first release going for 1986.[59] MGM Entertainment The MGM sign being dismantled once Lorimar took control of the Culver City lot in 1986 On August 7, 1985, Turner Broadcasting System offered to buy MGM/UA. As film licensing to television became more complicated, Ted Turner saw the value of acquiring MGM's film library for his Superstation WTBS.[52] Ahead of the merger, MGM/UA Distribution Co. become the newly minted joint venture UA/MGM Distribution Co., which would handle sales and operations of MGM and United Artists feature films.[60] On March 25 of the following year, the deal was finalized in a cash-stock deal for $1.5 billion,[18][52][61][page needed] and the company was renamed "MGM Entertainment Co.".[62][63] Turner immediately sold MGM's United Artists subsidiary back to Kerkorian for roughly $480 million.[18][61] But since Turner was unable to find financing for the rest of the deal because of concerns in the financial community over the debt-load of his companies, on August 26, 1986, Turner was forced to sell MGM's production and distribution assets to United Artists for $300 million.[18][61][64][65] The MGM studio lot and lab facilities were sold to Lorimar-Telepictures.[64] Lorimar-Telepictures would later sell the Metrocolor facilities, Metrocolor Film Laboratory (aka MGM Laboratory) to Technicolor for $60 million.[66] Turner retained the pre-May 1986 library of MGM films, along with the RKO Radio Pictures and pre-1950 Warner Bros. films which United Artists had previously purchased.[64] How much of MGM's back catalog Turner actually obtained was a point of conflict for a time; eventually, it was determined that Turner owned all of the pre-May 1986 MGM library, as well as the pre-1950 Warner Bros. catalog,[67][68][note 1] the Popeye cartoons released by Paramount (both the pre-1950 WB library and Popeye cartoons were sold to Associated Artists Productions, which was later bought by United Artists), and the US/Canadian rights to the RKO library, in addition to MGM's television series. Turner used the acquired films to launch the new cable channel Turner Network Television. MGM/UA Communications After Kerkorian reclaimed MGM in August 1986, the MGM/UA name continued to be used, but the company changed its name, this time to MGM/UA Communications Co., which was renamed from United Artists Corporation, now using MGM and UA as separate brands.[69][70] The change became official on September 10, 1986, and at that time, the New York Stock Exchange ticker symbol was changed from UA, yet again to MGM.[71] In 1987, both MGM/UA Communications Co., Paramount Pictures and Universal Pictures teamed up in order to market feature film and television product to China, and the consumer reach is measured in terms of the 25-billion admission tickets that were clocked in China in 1986, and Worldwide Media Sales, a division of the New York-based Worldwide Media Group had been placed in charge of the undertaking.[72] Later that year, in October 1987, MGM/UA had two separate financing deals with Star Partners Ltd., which is planning on to raise $65 million in debt to co-finance the upcoming pictures made by MGM/UA, and a second financing agreement was obtained by First Artist Media Entertainment Ltd., which is planning on to raise $15 million to co-finance, produce and distribute several low-budget pictures that were planning on to be produced by MGM/UA.[73] In July 1988, Kerkorian announced plans to split MGM and UA into separate studios. Under this deal, Kerkorian, who owned 82% of MGM/UA Communications, would have sold 25% of MGM to Barris Industries (controlled by producers Burt Sugarman, Jon Peters, and Peter Guber).[74] The proposition to spin off MGM was called off a few weeks later.[75] In 1989, Australian-based Qintex attempted to buy MGM from Kerkorian, but the deal collapsed.[76] On November 29, 1989, Turner (owners of the pre-May 1986 MGM library) attempted to buy Tracinda's entertainment assets such as MGM/UA Communications Co. but every time the deal had failed.
Price: 74.99 USD
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End Time: 2025-01-30T06:02:47.000Z
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