Jonathan Glickman to Stay as MGM President of Movie Group Through 2017

Jonathan Glickman is overseeing the release of "Skyfall" and "The Hobbit" for the studio

Jonathan Glickman will remain as president of Metro-Goldwyn-Mayer's motion picture group through 2017, the studio said Monday. 

With his new pact in place, Glickman will continue to develop and produce for the studio as it flirts with going public.

All but written off for dead in recent years, MGM has emerged from bankruptcy with several high-profile projects including  a three-part adaptation of "The Hobbit" and the latest James Bond film "Skyfall." It has also backed "The Girl With the Dragon Tattoo," which lost money, and "21 Jump Street," a surprise R-rated comedy hit.

By keeping Glickman on board, MGM helps stabilize its executive ranks. Earlier this month, Roger Birnbaum stepped down as co-chairman and co-CEO of MGM to become an exclusive producer at the studio, leaving Gary Barber as the sole head of the company.

“Jon has made tremendous strides for the motion picture group since he first joined us at MGM in early 2011,” Barber said in a statement. “With his keen eye for material and incredibly strong relationships, he has been able to build an envious slate of pictures and an exciting development pipeline for future films.”

In addition to the Bond and Hobbit films, upcoming MGM projects include “Hercules,” starring Dwayne Johnson, “The Machine” starring Vin Diesel, “The Magnificent Seven” starring Tom Cruise, and reboots of “Deathwish” and “Poltergeist."

Glickman joined MGM as in February 2012 from his post as president of Spyglass Entertainment. 

Spyglass Entertainment took over MGM in 2010, when the studio behind such classic films as "Gone With the Wind" and "The Wizard of Oz" was mired in some $4 billion in debt.

Since helping MGM emerge from Chapter 11, studio returned to profitability by slashing staff and leveraging its library. In 2011, it reported operating income of $79 million and revenue of $699 million.

MGM, which is privately held, is flirting with going public. In July, it filed a draft registration statement for an IPO with the Securities and Exchange Commission