Video Sales Help MGM Narrow Loss
- Share via
From Bloomberg News
Metro-Goldwyn-Mayer Inc., the studio being sold by billionaire Kirk Kerkorian to an investor group led by Sony Corp., said its third-quarter loss narrowed to $26.7 million partly because of higher home-video sales.
The net loss of 11 cents a share, compared with $32.6 million, or 13 cents, a year earlier, met analysts’ expectations, according to Thomson First Call. Revenue at the Los Angeles-based company fell 12% to $401.3 million from $457 million.
MGM shares rose 3 cents to $11.79 on the NYSE.
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
