OTHER NEWS - Aug. 17, 1993

MGM Cuts Losses in 2nd Quarter: Metro-Goldwyn-Mayer Inc., the legendary movie studio plagued in recent years by management changes and box office duds, has posted a smaller second-quarter loss. MGM’s loss narrowed to $46.7 million, or 78 cents a share, from $58.7 million, or 98 cents a share, in the year-earlier period. Revenue declined to $133 million from $195 million. MGM, owned by French banking giant Credit Lyonnais, had a loss of $97.9 million, or $1.63 a share, in the first half. That compares to a year-earlier loss of $146.1 million, or $2.43 a share. Revenue fell to $329.3 million from $493.9 million.