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MGM's Lion May Be Off To The AuctionBy Tim Gomez: 2009-11-11 23:25:38
It hurts to see the companies that you grew up with go down in flames. For the longest time, seeing the roaring lion in the center of MGM’s logo always meant something enjoyable was coming. It’s an unforgettable logo that has transcended its function as a representation of the company and turned into a relic of better days in the film industry.
But like many relics these days, the MGM logo may be up for sale soon. According to Variety, both the MGM and United Artists libraries may soon be sold off to a major company such as Time-Warner. Additionally, the studio’s legendary logo could potentially be auctioned off to a different company. As of right now, MGM is neck deep in $3.7 billion in debt and worth only about $1.5 billion, compared to the $5 million that its current owners paid in 2004. There’s a chance that Kirk Kerkorian, former owner of the company, may be interested in purchasing the logo. As the owner of the MGM Mirage, I can see how this would be convenient for him. Nevertheless, the idea of the logo being separated from the films that made it mean something is just too heartbreaking to fathom. But since Fame is the only movie the studio has released this year, it’s probably better that the logo moves on.
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