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Former MGM Chief Mary Parent Takes Deal at Paramount

She joined MGM in 2008, and had been a well-regarded producer at Universal

Mary Parent, former co-CEO and chair of MGM's Worldwide Motion Picture Group, has accepted a first look production deal with Paramount, TheWrap has confirmed.

Parent stepped down from MGM in October, as the studio was preparing to enter a prepackaged bankruptcy.

Parent, a well-regarded producer at Universal, joined the studio in 2008, but MGM's financial problems derailed several high profile projects she hoped to make, such as a James Bond sequel and a remake of "Robocop." Indeed, so dire did the studio's fiscal issues become that Parent was left with little to do as production essentially was put on ice.

Deadline originally reported the story.