Metro-Goldwyn-Mayer Inc. (MGM) is an American media company, involved primarily in the production and distribution of films and television programs. MGM was founded in 1924 when the entertainment entrepreneur Marcus Loew
Marcus Loew
Marcus Loew was an American business magnate and a pioneer of the motion picture industry who formed Loews Theatres and Metro-Goldwyn-Mayer .-Biography:...

 gained control of Metro Pictures
Metro Pictures
Metro Pictures Corporation was an American motion picture production company founded in late 1915 by Richard A. Rowland . Louis B. Mayer who worked for Metro Pictures Corporation early on. It is not to be confused with MGM which is a much later franchise concerning itself, Goldwyn and Louis B....

, Goldwyn Pictures Corporation
Goldwyn Pictures
Goldwyn Pictures Corporation was an American motion picture production company founded in 1916 by Samuel Goldfish in partnership with Broadway producers Edgar and Archibald Selwyn using an amalgamation of both last names to create the name...

 and Louis B. Mayer Pictures
Louis B. Mayer
Louis Burt Mayer born Lazar Meir was an American film producer. He is generally cited as the creator of the "star system" within Metro-Goldwyn-Mayer in its golden years. Known always as Louis B...

. Its headquarters are in the MGM Tower in Century City, Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...


On November 3, 2010, MGM filed for Chapter 11 bankruptcy. MGM emerged from bankruptcy on December 20, 2010, at which time the executives of Spyglass Entertainment
Spyglass Entertainment
Spyglass Entertainment is an American film production company, co-founded by Gary Barber and Roger Birnbaum in 1998. The studio was founded with an investment from European media conglomerates Kirch Group and Mediaset, and a five-year distribution deal with The Walt Disney Company...

, Gary Barber
Gary Barber
Gary Barber is a film producer who is a co-founder and co-CEO of Spyglass Entertainment and co-CEO of Metro-Goldwyn-Mayer.-Filmography:His production credits include:*Reign of Fire*Shanghai Noon*Bruce Almighty*Ace Ventura: When Nature Calls*The Recruit...

 and Roger Birnbaum
Roger Birnbaum
Roger Birnbaum is an American film producer who owns the company Spyglass Entertainment and is co-CEO and co-Chairman of Metro-Goldwyn-Mayer.Birnbaum was born in Teaneck, New Jersey, where he graduated from Teaneck High School...

, became co-Chairs and co-CEOs of the company.
The studio's official motto
A motto is a phrase meant to formally summarize the general motivation or intention of a social group or organization. A motto may be in any language, but Latin is the most used. The local language is usual in the mottoes of governments...

, "Ars Gratia Artis", is a Latin
Latin is an Italic language originally spoken in Latium and Ancient Rome. It, along with most European languages, is a descendant of the ancient Proto-Indo-European language. Although it is considered a dead language, a number of scholars and members of the Christian clergy speak it fluently, and...

 phrase meaning "Art for art's sake
Art for art's sake
"Art for art's sake" is the usual English rendering of a French slogan, from the early 19th century, l'art pour l'art, and expresses a philosophy that the intrinsic value of art, and the only "true" art, is divorced from any didactic, moral or utilitarian function...

"; it was chosen by Howard Dietz
Howard Dietz
Howard Dietz was an American publicist, lyricist, and librettist.-Biography:Dietz was born in New York City and studied journalism at Columbia University...

, the studio's chief publicist.