MGM Ducks Gary Barber’s Departure in Yearly Earnings Call
MGM is being run by a group of senior leadership and division heads, part of its newly created Office of the CEO
Trey Williams | March 28, 2018 @ 4:24 PM
Last Updated: March 28, 2018 @ 6:37 PM
If you were hoping to hear an explanation for the surprise-firing of former MGM Chairman and Chief Executive Gary Barber during the company’s year-end earnings call, look elsewhere. Chief Operating Officer Chris Brearton told listeners early during the talk that the company would rather focus on its “strong year-end results,” and wouldn’t answer any questions about the matter.
Brearton also indicated that, for now at least, the company won’t be replacing Barber directly. Instead, he told analysts, MGM is now being run by a group of senior leadership and division heads, part of the newly-created “Office of the CEO” the company announced last week.
However, Brearton did not disclose the makeup of the group or how long they’ll be in charge. The COO said only that they have been “empowered” to carry out a “mission to drive greater collaboration across the organization and execute the strategic priorities.” No questions were asked about the group during the Q&A portion of the call.
Brearton instead leaned on the studio’s acquisition of Epix, its newfound U.S. distribution and ownership of the James Bond franchise to reassure investors that the studio is well-positioned for future growth.
After hitting its third year of record profit in 2016, MGM reported net income of $549 million in 2017. MGM also reported revenue of $1.3 billion, which was up 10 percent compared with the 2016. The company’s film revenue was down slightly, while TV content revenue was up 15 percent and revenue for media networks was up 198 percent.
Barber, who joined MGM in 2010, was abruptly let go without explanation last week, just five months after his contract was renewed through 2022. The company has made no statement about why Barber was let go, but individuals with knowledge of the matter previously told TheWrap he was ousted after the board concluded he would hint to Wall Street that MGM was up for sale.
Beyond Bond: Roger Moore's 7 Most Memorable Non-007 Roles, From 'The Saint' to 'Spice World' (Photos)
Roger Moore, who died Tuesday at age 89, is best remembered for playing superspy James Bond in seven movies from 1973 to 1985. But he had a storied career in Hollywood before and after his record turn as 007.
Maverick (1960-61) Roger Moore was born in the U.K. but got his start as an MGM contract player in the 1950s. His first big breaks came in television, including this Western starring James Garner as a frontier cardsharp.
The Saint (1962-69) Moore became a household name as the star of this hit small-screen spy thriller, which was based on Leslie Charteris' books about the character Simon Templar. He brought a quippy charm to the role that he later applied to the Bond series.
The Man Who Haunted Himself (1970) In this twisty pre-Bond thriller, Moore plays a man who gets into a car accident and discovers that he either has a doppelganger who is behaving very differently than he would -- or that he has gone insane.
ffolkes (1980) Moore tried to shake off his James Bond persona with this thriller (which was originally titled "North Sea Hijack"), playing a misogyinistic freelance terrorism consultant who leads a team to combat terrorists seeking to blow up two oil rigs.
The Cannonball Run (1981) Moore sent himself up in this caper comedy starring Burt Reynolds, playing a millionaire who has plastic surgery to better resemble ... Roger Moore.
Spice World (1997) Moore plays the eccentric "Chief" of a record label in the musical comedy starring the British pop quintet the Spice Girls.
Cats & Dogs: The Revenge of Kitty Galore (2010) In this family comedy that spoofed Bond thrillers, Moore voiced the head of the feline spy agency MEOWS (Mousers Enforcing Our World's Safety) whose name, naturally, is Tab Lazenby.
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British actor died Tuesday at age 89
Roger Moore, who died Tuesday at age 89, is best remembered for playing superspy James Bond in seven movies from 1973 to 1985. But he had a storied career in Hollywood before and after his record turn as 007.
