CBS Turned Microsoft Exec Nancy Tellem Joins MGM Board

Entertainment and digital media president of Microsoft replaces Peter Liguori

Last Updated: July 16, 2014 @ 3:36 PM

Nancy Tellem, Microsoft's president of entertainment and digital media, has joined the board of Metro-Goldwyn-Mayer.

She will replace Peter Liguori, who resigned from as a director to focus on his new job as chief executive officer of the Tribune Company.

Liguori, a veteran entertainment executive, took over at the media company in January after it emerged from bankruptcy.

"Peter was a valued board member and we wish him the best in his new role," MGM CEO Gary Barber said during a call with investors  on Thursday.

Also read: MGM Revenues Rise More Than 100% on 'Vikings,' 'G.I. Joe' Success

Barber hailed Tellem as "a great addition" to the studio's leadership and noted her past work as president of CBS Television Studios. Since joining Microsoft in September, Tellem has been focused on creating original content that will be distributed exclusively through Xbox. The platform boasts some 40 million users worldwide.

MGM which emerged from bankruptcy in 2010, is privately owned, but has been releasing its financial results publicly since it exited Chap. 11 protections.

The studio saw revenue climb more than 160 percent to $339 million during the second quarter of 2013 on home entertainment sales of "Skyfall" and "The Hobbit" and the success of TV shows like "Vikings" and "Teen Wolf." Barring a one-time asset sale, net income was up more than $30 million from the same period a year ago.

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