ABSTRACT
Kirk Kerkorian installed Alex Yemenidjian as chairman and chief executive and Christopher McGurk as vice chairman. The bank had brought suit against Kerkorian in a Los Angeles court, contending that he sold the studio without fully disclosing its true financial problems. Kerkorian named Stephen Silbert chairman and chief executive to replace Lee Rich. Silbert consolidated the two film divisions into a single unit, Metro-Goldwyn Mayer (MGM)/UA Film Group, and promoted Richard L. Berger as president and chief executive. Credit Lyonnais foreclosed on MGM-Pathe after the Chancery Court decision and formally took possession in May 1992. Kerry Stokes, with aspirations to be a big-time media player, wanted a stake in MGM to gain access to its films for Seven Network's free-to-air TV network. MGM Television at one time was a major supplier of original TV shows for network television. MGM owned the world's largest film library but did not control all the rights.
