In the first of a series of “The Lion Roars Again” gatherings touting MGM’s reemergence as a film-distribution entity, its new CEO Harry Sloan Wednesday reaffirmed the company’s commitment to U.S movie- and TV-library distributor Sony, despite reports of a rocky relationship.
MGM is adding home video to the exclusive U.S. ancillary market distribution plate of Sony Pictures Entertainment, which owns a 20% stake in the studio.
“Sony continues to do a great job of distributing our library to the home video, TV and DVD markets,” Sloan said.
The announcement came as MGM unveiled a new 18-film feature distribution slate, including remakes of The Pink Panther and The Thomas Crown Affair, to expand its library.
It will decide about film-distribution rights between Sony and itself for the upcoming movies “on a case by case basis,” Sloan said.
The new slate will help MGM refresh its 30-picture output deal with Showtime, which reportedly contains penalties if MGM is unable to deliver all the goods.
Sloan also revealed the studio plans to launch foreign TV channels, including one in the Czech Republic.