Rick Sands Named Chief Operating Officer of MGM

Rick Sands Named Chief Operating Officer of MGM

Top Entertainment Executive to Create New Avenues of Exploitation and Expansion of the World's Largest Modern Film and Television Library

LOS ANGELES, Jan. 30 /PRNewswire/ -- Metro-Goldwyn-Mayer Inc. (MGM) today announced that Rick Sands, most recently the President and Chief Operating Officer of DreamWorks SKG and the former Chief Operating Officer of Miramax Films, has been named Chief Operating Officer of MGM. The announcement was made today by Harry E. Sloan, Chairman & Chief Executive Officer of MGM.

(Logo: http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGO)

In this newly created position, Sands takes on the initial responsibilities of leveraging and managing the world's largest modern film and television library across all platforms including the new media landscape of internet and mobile as well as the traditional channels of distribution -- television, video and international. The MGM library is comprised of 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. In his new role, Sands will also devise plans to identify new content and channel opportunities for MGM with the company's strategic equity partners, including Sony Corporation of America and Comcast Corporation.

As the new COO at MGM, Sands will also supervise the company's finance, operations and business affairs. Sands' appointment is effective immediately and he will be based at the company's corporate headquarters in Century City, Calif.

In making the announcement, Sloan stated: "I am thrilled to have Rick join MGM's executive leadership team, where we will benefit immensely from his solid experience and great track record in managing and growing entertainment libraries at such leading companies as DreamWorks, Miramax and Hallmark Entertainment. Rick has a long history of working with extensive entertainment assets and this is key to furthering the exploitation of our content."

Sands added: "To be involved with MGM is a rare opportunity, having the ability to take an existing brand and to build an even stronger content-based leading enterprise. With the sweeping changes in the distribution business, I plan to bring a unique approach to the MGM library and to create new value and content. I also look forward working with Harry Sloan to expand what is at present one of the blue chip content providers in the industry."

Mr. Sands' background:

Sands has served as President and Chief Operating Officer of DreamWorks since 2005. Based in Los Angeles, he's been responsible for all aspects of the studio's business and creative operations. Previously, Sands was Chief Operating Officer for Miramax Films from 2002 to 2004 and oversaw the day-to-day responsibility for marketing, publicity, distribution and production throughout all media. From 1997 to 2002, Sands served as Chairman Worldwide Distribution of Miramax Films and supervised worldwide distribution and sales throughout all media of Miramax and Dimension Films. Sands joined Miramax in 1995 as President International and for the next two years he was responsible for Miramax's international business activities including production and distribution. Sands began his entertainment career in 1978 at Columbia Pictures, where he worked for 12 years and served as Vice President Distribution. In 1990, Sands joined Miramax Films and served as Executive Vice President and Chief Executive Officer before accepting the position of Executive Vice President and Chief Financial Officer for Hallmark Entertainment, where from 1993 to 1995 he was in charge of the day-to-day financial, business and legal affairs activities.

About Metro-Goldwyn-Mayer Inc.

Metro-Goldwyn-Mayer Inc. is actively engaged in the worldwide production and distribution of motion pictures, television programming, home video, interactive media, music, and licensed merchandise. The company owns the world's largest library of modern films, comprising around 4,000 titles. Operating units including Metro-Goldwyn-Mayer Pictures Inc., United Artists Films Inc., MGM Television Entertainment Inc, MGM Networks Inc., MGM Distribution Co., MGM International Television Distribution Inc., Metro-Mayer-Goldwyn Home Entertainment LLC, MGM on Stage, MGM Music, MGM Consumer Products and MGM Interactive. In addition, MGM has ownership interests in international TV channels reaching nearly 110 countries. MGM ownership is currently as follows: Providence Equity Partners (29%), Texas Pacific Group (21%), Sony (20%), Comcast (20%), DLJ Merchant Banking Partners (7%) and Quadrangle Group (3%). For more information, visit www.mgm.com.

Contact: Jeff Pryor
Priority Public Relations
e. jeff@prioritypr.net; p. (818) 730-0770

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Metro-Goldwyn-Mayer Inc.

CONTACT: Jeff Pryor of Priority Public Relations, +1-818-730-0770,
jeff@prioritypr.net, for Metro-Goldwyn-Mayer Inc.

Web site: http://www.mgm.com/

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