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MGM-PATHE ANNOUNCES APPOINTMENT OF DENNIS C. STANFILL AS CO-CHAIRMAN AND CO-CEO

 MGM-PATHE ANNOUNCES APPOINTMENT OF DENNIS C. STANFILL
 AS CO-CHAIRMAN AND CO-CEO
 CULVER CITY, Calif., Jan. 21 /PRNewswire/ -- MGM-Pathe Communications Co. today announced that Dennis C. Stanfill, former chairman and chief executive officer of Twentieth Century Fox Corp., will join Alan Ladd Jr. at MGM, with each to hold the positions of co- chairman and co-chief executive officer. Ladd will continue to be responsible for production, distribution and marketing of film entertainment in all media worldwide, while Stanfill's duties will include the corporate and financial management of the company and its subsidiaries.
 This announcement follows closely upon a decision by a Delaware Chancery Court confirming that Credit Lyonnais Bank Nederland N.V. ("CLBN") and the Ladd management team were properly in control of MGM. A spokesman for Credit Lyonnais said that the bank "is fully confident that Ladd and Stanfill, together with their outstanding management team, will restore MGM to a leading role in the entertainment industry and maximize the many valuable assets owned by MGM and United Artists."
 Ladd stated, "I am very pleased with the Delaware decision and the confidence of CLBN, which will enable the company to regain the faith of the creative community. My activities will now be focused on the production and distribution of pictures, and I am pleased that Dennis has agreed to join the MGM team to focus on business and financial activities."
 Stanfill commented, "I look forward to working closely with Laddie at MGM to repeat the success we had together at Fox."
 Stanfill, who was chairman and chief executive officer of Fox from 1971 to 1981, most recently was chairman of AME Inc., a leading videotape post production company. Stanfill also has served as chairman of KCET, where he was instrumental in the financial turnaround of that Los Angeles public broadcasting television station.
 Ladd, who had been serving as chairman and chief executive officer of Pathe Entertainment Inc., was designated chairman and chief executive officer of MGM in April 1991, at the initiative of Credit Lyonnais as part of the restructuring of MGM's management. His prior positions included president of Twentieth Century Fox Pictures, chairman of United Artists Corp. and chairman and chief executive officer of Metro-Goldwyn- Mayer Pictures Inc.
 MGM-Pathe is involved in the worldwide production and distribution of motion picture and television programs and operates theater chains in Europe.
 -0- 1/21/92
 /CONTACT: Craig A. Parsons of Rifkind Pondel & Parsons, 310-207-9300, for MGM-Pathe Communications/ CO: MGM-Pathe Communications Co. ST: California IN: ENT SU: PER


KJ -- LA024 -- 2150 01/21/92 18:29 EST
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Publication:PR Newswire
Date:Jan 21, 1992
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