Mary Parent, former Vice Chairman, Worldwide Production Universal Pictures, has been named Chairperson, Worldwide Motion Picture Group at MGM.
Parent will be responsible for oversight of worldwide theatrical production, distribution, marketing and business affairs for MGM, reporting to Harry E. Sloan, MGM's Chairman, Chief Executive Officer and to the MGM Board of Directors.
The appointment signals a step forward in re-establishing MGM as a major Hollywood studio player with a commitment to develop, produce and release a full slate of motion pictures annually.
Since joining MGM October 2005, Sloan revitalized MGM's domestic theatrical distribution operation, followed by rebuilding MGM's worldwide TV operations/worldwide video distribution in partnership with Twentieth Century Fox. November 2006 United Artists was 'reborn', operated independently by actor/producer Tom "Eyes Wide Shut" Cruise and partner Paula Wagner, as a source of product, backed by a $500 million production facility from Merrill Lynch. By the end of 2007, MGM also announced two movies with Peter Jackson based on Tolkien's The Hobbit.
In partnership with Sony Pictures Entertainment, MGM will release tentpole franchises James Bond: Quantum Of Solace and Pink Panther 2. MGM will also release Bryan Singer's Valkyrie October 3, through United Artists.
With the appointment of Parent, MGM enters a new phase focusing on additional film franchises Thomas Crown, The Outer Limits, Robocop and Death Wish...