Mark Burnett to Lead MGM Television Group

ADVERTISEMENT

LOS ANGELES: Mark Burnett has been named president of MGM Television and Digital Group, with the move occurring simultaneously with the closing of MGM’s acquisition of the remaining 45 percent of United Artists Media Group (UAMG).

Roma Khanna has stepped down from her position as head of television and digital. Burnett has signed a five-year contract to run MGM Television. He will report directly to Gary Barber, chairman and CEO of Metro-Goldwyn-Mayer. UAMG, which was owned by Hearst, Roma Downey and Burnett, will now be fully absorbed under the MGM Television Group umbrella.

Barber commented: "Roma has done a terrific job at MGM. We are thankful for her efforts in helping grow MGM and wish her much success in her future endeavors."

Burnett and Downey will exchange their 23 percent interest in UAMG for 1,337,360 shares of MGM stock valued at $90 per share. Hearst will receive $113.5 million in cash for its 22 percent interest. This transaction will enable the complete integration of UAMG’s and MGM’s television businesses and the consolidation of their operations. The transaction is expected to close at the beginning of 2016. The planned OTT channel will remain a separate entity controlled by its investors, Downey, Burnett, Hearst and MGM.

"Mark Burnett is one of the most successful producers in television and a highly sought-after executive in content creation," said Barber. "His leadership is the next step in our never-ending quest to expand and grow our television and digital businesses. Combining all of our TV content efforts under the purview of this unparalleled chief is incredibly exciting. Additionally, we believe this synergistic transaction will be very accretive to MGM."

"Joining MGM under the incredible leadership of Gary Barber is an exciting new chapter of my television career," noted Burnett. "Demand for quality content is stronger than ever and the opportunities to grow our pipeline and develop projects from the wealth of intellectual property in the MGM and United Artists libraries are enormous. There is no better time to be creating premium content for distribution across multiple platforms."

Downey added, “We have entered into an era where faith-based and family programming is experiencing a creative renaissance. I am so excited and grateful to head up the team at LightWorkers Media under MGM. This is an enthusiastic marketplace that inspires us every day to create and curate new, thoughtful and dynamic content for all screens in the distribution landscape."

As part of the new structure, Downey will serve as president of LightWorkers Media, which will be the faith and family division of MGM Television, and will report to Burnett. Downey will also serve as the chief content officer for the planned OTT channel. Additionally, Chris Ottinger has been promoted to president of worldwide television distribution and acquisitions for MGM, reporting directly to Barber. Steve Stark, MGM’s president of television development and production, will continue to oversee all scripted content and will report directly to Burnett in an expanded role. John Bryan, MGM’s president of domestic television distribution, will continue in his role overseeing domestic distribution.