Editing Metro-Goldwyn-Mayer (section)

===MGM Entertainment===
[[File:MGM Studio Takeover.jpg|thumbnail|right|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]] [[TBS (TV network)|WTBS]].<ref name="lbm"/> 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 UA feature films.<ref>{{Cite news|last=Galbraith|first=Jane|date=February 19, 1986|title=MGM/UA Becomes UA/MGM In Light of Future Structure|pages=2, 399|work=[[Variety (magazine)|Variety]]}}</ref> On March 25 of the following year, the deal was finalized in a cash-stock deal for $1.5&nbsp;billion,<ref name="Bart"/><ref name="lbm"/><ref name="Turner">{{cite book|last=Parsons|first=Patrick R.|title=Skies: A History of Cable Television|date=2008|publisher=Temple University Press|location=Philadelphia|isbn=978-1592132874}}</ref>{{Page needed|date=February 2017}} and the company was renamed "MGM Entertainment Co.".<ref>{{cite news |url=https://pqasb.pqarchiver.com/chicagotribune/access/24900226.html?dids=24900226:24900226&FMT=ABS&FMTS=ABS:FT&type=current&date=May+07%2C+1986&author=Charles+Storch&pub=Chicago+Tribune+(pre-1997+Fulltext)&desc=TURNER+MAY+SELL+EQUITY+IN+COMPANY&pqatl=google |title=Chicago Tribune: Turner May Sell Equity In Company |publisher=Pqasb.pqarchiver.com |date=May 7, 1986 |access-date=December 15, 2011 |first=Charles |last=Storch |archive-date=January 11, 2012 |archive-url=https://web.archive.org/web/20120111191625/http://pqasb.pqarchiver.com/chicagotribune/access/24900226.html?dids=24900226:24900226&FMT=ABS&FMTS=ABS:FT&type=current&date=May+07%2C+1986&author=Charles+Storch&pub=Chicago+Tribune+(pre-1997+Fulltext)&desc=TURNER+MAY+SELL+EQUITY+IN+COMPANY&pqatl=google |url-status=dead }}</ref><ref>{{cite news |url=https://www.latimes.com/archives/la-xpm-1986-06-07-ca-10151-story.html |title=Turner Sells The Studio, Holds On To The Dream |work=Los Angeles Times |date=June 7, 1986 |access-date=December 15, 2011 |first=Morgan |last=Gendel |archive-date=February 13, 2022 |archive-url=https://web.archive.org/web/20220213144359/https://www.latimes.com/archives |url-status=live }}</ref> Turner immediately sold MGM's UA subsidiary back to Kerkorian for roughly $480 million.<ref name="Bart"/><ref name="Turner"/> However, 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; thus, on August 26, 1986, Turner was forced to sell MGM's production and distribution assets to UA for $300&nbsp;million.<ref name="Bart"/><ref name="Turner"/><ref name="Fabrikant">{{cite news |last=Fabrikant |first=Geraldine |url=https://www.nytimes.com/1986/06/07/business/turner-to-sell-mgm-assets.html |title=Turner To Sell Mgm Assets |website=The New York Times |date=June 7, 1986 |access-date=August 6, 2014 |archive-date=February 15, 2017 |archive-url=https://web.archive.org/web/20170215030846/http://www.nytimes.com/1986/06/07/business/turner-to-sell-mgm-assets.html |url-status=live }}</ref><ref>{{cite news |url=https://www.orlandosentinel.com/1986/08/27/turner-united-artists-close-deal/ |title=Turner, United Artists Close Deal |work=[[Orlando Sentinel]] |agency=[[United Press International|UPI]] |date=August 27, 1986 |access-date=September 20, 2013 |archive-date=September 21, 2013 |archive-url=https://web.archive.org/web/20130921055612/http://articles.orlandosentinel.com/1986-08-27/business/0250090069_1_united-artists-turner-mgm |url-status=live }}</ref> The [[Sony Pictures Studios|MGM studio lot and lab facilities]] were sold to [[Lorimar-Telepictures]].<ref name="Fabrikant"/> Lorimar-Telepictures would later sell the [[Metrocolor]] facilities, Metrocolor Film Laboratory (aka MGM Laboratory) to [[Technicolor]] for $60 million.<ref>{{Cite news|last=Galbraith|first=Jane|date=September 10, 1986|title=Technicolor Parent Partnered To Buy MGM Laboratories|page=3|work=[[Variety (magazine)|Variety]]}}</ref> Turner retained the pre-May 1986 library of MGM films, along with the [[RKO Pictures|RKO Radio Pictures]] and pre-1950 [[Warner Bros.]] films which UA had previously purchased.<ref name="Fabrikant"/>

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,<ref name="ymrt">{{cite book|last1=Schickel|first1=Richard|last2=Perry|first2=George|title=You Must Remember This: The Warner Bros. Story|date=2008|publisher=Running Press|location=Philadelphia|isbn=978-0762434183|page=[https://archive.org/details/youmustremembert0000schi/page/225 225]|url=https://archive.org/details/youmustremembert0000schi/page/225}}</ref><ref>{{cite web|url=https://archive.org/details/mediahistory&tab=collection?and%5B%5D=subject%3A%22Motion%20pictures%20--%20Catalogues%22 |title=Media History Digital Library : Free Texts : Download & Streaming : Internet Archive |date=March 25, 2011 |access-date=September 22, 2015}}</ref><ref group=note>WB retained a pair of features from 1949 that they merely distributed, and all short subjects released on or after September 1, 1948, in addition to all cartoons released on or after August 1, 1948.</ref> the ''[[Popeye the Sailor (film series)|Popeye]]'' cartoons released by Paramount (both the pre-1950 Warner Bros. library and ''Popeye'' cartoons were sold to [[Associated Artists Productions]], which was later bought by UA), 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 [[TNT (U.S. TV network)|Turner Network Television]] (TNT).