MGM said those movies' performances on pay television and video-on-demand platforms helped boost revenue in the company's television licensing business by $76 million compared with the same quarter a year ago.
The company's second film in the "Hobbit" series, "The Hobbit: The Desolation of Smaug,” is scheduled to be released by
MGM emerged from bankruptcy in December 2010, and filed a draft registration statement for an initial public offering with the
The company filed as an "emerging-growth company," an SEC classification that offers businesses with less than $1 billion in annual revenue to sidestep some regulatory and filing requirements.
In March, MGM reported 2012 revenue of $1.38 billion, invalidating the company's status as an "emerging-growth company." As a result, MGM would need to file a new draft registration statement before it could go public.
Also on Thursday, in a move Barber characterized as a display of "continued confidence in the company," MGM said it was increasing the size of its stock repurchase plan. The company upped the size of the program -- which was announced in September -- by $75 million to a total of $150 million. It also said then that it was adopting a dividend designed to protect the company from a hostile takeover.
The dividend, which went into effect in September, is for one "purchase right" for each outstanding share of its Class A and B common stock. It serves as a coupon, allowing the holder to buy 0.001 of a share of a newly created class of preferred MGM stock at an initial price of $110.
The dividend can be exercised if a person or group becomes the owner of 10% or more of common stock, or announces a prospective deal that would make such a person or group an owner of that size.
MGM said in September that the move was not being made in response to a "known effort" to acquire the company. But it has experience with a hostile takeover effort. In 2010, activist investor
He sold his approximately 25% stake in MGM back to the studio last year.