Sands to Exit MGM

LOS
ANGELES, April 3: Rick Sands has resigned from his post as the COO of
Metro-Goldwyn-Mayer Studios (MGM) in order to pursue other opportunities in
entertainment and content.

Sands
has served as MGM’s COO since January 2006. During his tenure at MGM, he was
able to achieve the revitalization of a full-service theatrical marketing and
distribution infrastructure that allowed for the North American release of the
studio’s films. To maximize MGM’s library assets, Sands played a key role in
establishing a home-entertainment structure in conjunction with Twentieth
Century Fox, as well as in developing the studio's worldwide television sales
and digital media divisions.

Prior
to joining MGM, Sands served as the president and COO of DreamWorks. There, he
was responsible for all aspects of the studio’s business and creative
operations prior to its sale to Paramount Pictures. Sands also held key
leadership roles within Miramax Films, where he oversaw production, marketing
and administration as COO. He also served as the executive VP and chief
financial officer for Hallmark Entertainment, where he was in charge of the
company's day-to-day financial, business and legal affairs activities. Sands
began his entertainment career in 1978 at Columbia Pictures, where he held a
post as the VP of distribution.

Harry E. Sloan, the
chairman and CEO of MGM, commented: "We appreciate Rick's contributions in
helping to revitalize MGM over these past two years. He has helped us to meet
the formidable challenge of rebuilding MGM’s operations and securely positioned
the studio with a strong foundation for continued growth and renewal. We wish
Rick continued success in all of his future endeavors."

—By Irene Lew