2004 |
2003
1 article from 2004
MGM Sees Big Profit from DVD Sales
19 February 2004
| Studio Briefing - Film News
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The boom in DVD sales helped lift MGM's net profit 2.7 percent in the fourth quarter to $60.3 million versus $58.7 million for the comparable period a year ago. The company in particular cited strong home-video sales for Legally Blonde 2: Red, White and Blonde, as well as sales of older movies from its vast library that were revived in the DVD format. It said that DVD shipments soared 41 percent in the quarter. In a conference call with analysts, MGM's COO Chris McGurk also acknowledged that MGM has had talks with Pixar "and we do intend to speak with them again very soon. ... We would love to be in business with them." CEO Alex Yemenidjian added: "I believe we are the best fit for Pixar in terms of a worldwide distribution deal versus the other studios."
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