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MGM Sets Ex-Pixar CFO Ann Mather To Head New Board of Directors

Mike Fleming

Fresh from pre-packaged bankruptcy and restructuring, MGM has named former Pixar CFO Ann Mather to head the studio’s new board of directors, a group that also includes new studio heads Roger Birnbaum and Gary Barber. Hopefully, the next step will be to start making movies again, after gifting Sony Pictures Entertainment’s summer slate with The Zookeeper, Warner Bros with The Hobbit, Fox with The Three Stooges, and some lucky studio with James Bond and future productions because in all likelihood, the MGM lion will try to roar again initially as a production company which contracts out distribution and marketing. Here’s the announcement:

LOS ANGELES, CA, December 23, 2010 – MGM Holdings Inc. (MGM), the independent, privately-held motion picture, television, home video, and theatrical production and distribution company today announced former Pixar Chief Financial Officer Ann Mather will join the Board of Directors of the newly restructured company. Mather will serve as the Lead Director of the nine-member Board that includes Gary Barber and Roger Birnbaum, Chief Executive Officers of MGM and Co-Chairman of Metro-Goldwyn-Mayer Inc and its operating subsidiaries.
Mather’s appointment coincides with the company’s December 20th announcement that their restructuring plan has become effective, including exit financing of $500 million, arranged by JP Morgan. As the Lead Director, Mather will oversee governance of the studio and its operating units, working in tandem with directors Barber and Birnbaum; former CBS Chief Financial Officer Fred Reynolds; former MySpace President Jason

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MGM’s Post-Bankruptcy Board Takes Shape

By | Friday November 26, 2010 @ 7:17pm PST

When MGM exits bankruptcy next month, its new-look board of directors will include a few more media veterans. Jason Hirschhorn, who was recently the co-president of MySpace, and former CBS Corp chief financial officer Frederic Reynolds will be part of the 9 person board, joining new MGM bosses Gary Barber and Roger Birnbaum along with representatives of creditors that helped restructure the company. Two board spots have yet to be filled, and one of those will be chosen by Carl Icahn, who just unveiled his Lionsgate board and who has in recent months amassed 18% of MGM’s debt. The appointments of Hirschhorn and Reynolds tap into MGM’s attempt to leverage its extensive film library while managing its release slate, which will supposedly be around 7-8 films per year starting in 2012. Reynolds will bring his traditional media experience to the company, while Hirschhorn, prior to Facebook, was president of entertainment for Sling Media and chief digital officer for MTV Networks. December 2 is the day on which the bankruptcy court is expected to approve MGM’s reorganization plan.

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