Pathe inks two European film deals to help finance MGM buy.Pathe inks two European film deals to help finance MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. buy BEVERLY HILLS Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. - Pathe Communications Corp. has made two more rights agreements, each worth about $50 million, granting various overseas television rights for films owned by what now is named MGM-Pathe Communications Co. The agreements are part of Pathe's efforts to raise money for its Nov. 1 acquisition of MGM/UA Communications Co. One agreement is with Super Channel, a European satellite-to-cable programming network. The deal will allow for films from the MGM-Pathe library to begin airing on the channel in next March. Super Channel is controlled by the Italian Marcucci family and is currently available in 23 million European households. The other agreement is with British Sky Broadcasting British Sky Broadcasting (BSkyB — formerly two companies, Sky Television and BSB) is a company that operates Sky Digital, a subscription television service in the UK and the Republic of Ireland. It produces TV content, and owns several TV channels. , the direct-broadcast satellite network created by merging once-rival News Corp.'s Sky Television and British Satellite Broadcasting British Satellite Broadcasting (BSB) was a company set up in 1986 to provide direct broadcast satellite television services to the United Kingdom. Though rival Sky Television was also suffering massive losses by 1990, BSB was in a worse position. . British Sky gains access to 300 films in the MGM-Pathe library and all new production until 1996. MGM-Pathe was formed as a result of a recent $1.36 billion buyout Buyout The purchase of a company or a controlling interest of a corporation's shares. Notes: A leveraged buyout is accomplished with borrowed money or by issuing more stock. of MGM/UA Communications. |
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