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MGM Chief Operating Officer Departs

Rick Sands, Chief Operating Officer of Metro-Goldwyn-Mayer Studios since January 2006, today announced his departure from the studio in order to pursue other opportunities in entertainment and content.

In line with the roadmap set forth by Harry E. Sloan, Chairman and Chief Executive Officer of MGM, Sands accomplished several key strategic goals for the studio. Sands' contributions included the revitalization of a full service theatrical marketing and distribution infrastructure that allowed for the North American release of the studio's films.

To maximize MGM's library assets Sands was also instrumental in establishing a home entertainment structure in conjunction with 20th Century Fox, as well as developing the studio's worldwide television sales and digital media divisions.

Sloan, commenting on Sands' departure, said: "We appreciate Rick's contributions in helping to revitalize MGM over these past two years. He has helped us to meet the formidable challenge of rebuilding MGM's operations and securely positioned the studio with a strong foundation for continued growth and renewal. We wish Rick continued success in all of his future endeavors."

Prior to joining MGM Sands served as President and Chief Operating Officer of DreamWorks SKG. At DreamWorks he was responsible for all aspects of the studio's business and creative operations prior to its sale to Paramount Pictures. Sands also held key leadership roles within Miramax Films where he ultimately oversaw production, marketing and administration as Chief Operating Officer.

He also served as Executive Vice President and Chief Financial Officer for Hallmark Entertainment where he was in charge of the company's day-to-day financial, business and legal affairs activities. Sands began his entertainment career in 1978 at Columbia Pictures where he had a successful tenure as Vice President of Distribution.