Metro-Goldwyn-Mayer (MGM) is an American film production and distribution company that was founded in 1924 by Marcus Loew and Louis B. Mayer and had its artistic and economic heyday until the late 1940s.
In 1971, it was announced that MGM was to merge with 20th Century Fox, but the plan never came to fruition. Over the next 39 years, the studio was bought and sold at various points in its history.
On November 3, 2010, MGM filed for bankruptcy. Under the protection of American bankruptcy law, MGM wants to get rid of its debts and then merge with the production company Spyglass Entertainment.