MGM chief Gary Barber's contract is extended through 2022

Metro-Goldwyn-Mayer has extended Chairman and Chief Executive Gary Barber’s contract through December 2022, the Los Angeles film and television company said Thursday.

Barber joined MGM in December 2010 after the company’s emergence from Chapter 11 bankruptcy protection.

Since then, Barber has led the effort to revive the studio, which has enjoyed a recent resurgence in the television business with hit shows including FX’s “Fargo.” MGM also produced Hulu’s acclaimed series “The Handmaid’s Tale,” which this year became the first streaming show to win the Emmy for best drama.

MGM also said Kevin Ulrich, CEO of private investment firm Anchorage Capital Group, has been named chairman of the board of MGM Holdings Inc., which owns Metro-Goldwyn-Mayer. New York-based Anchorage is MGM's largest shareholder.

Earlier this year, MGM acquired full ownership of cable movie network Epix for $1.2 billion. It also announced the relaunch of storied brand Orion Pictures as a theatrical film distributor last month.

In film, the company is best known as the producer of the James Bond franchise. The 25th film in the series is expected to arrive in theaters in 2019, though a distributor has not been announced. Sony Pictures has released the recent Agent 007 movies for MGM.

“Shark Tank” producer Mark Burnett has run the company’s television division since 2016, after MGM bought full control of his joint venture with the studio, United Artists Media Group.



3:25 p.m.: This article was updated with information about Kevin Ulrich.

This article was originally published at 10 a.m.

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