Harry Sloan Out as MGM Restructures

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Metro-Goldwyn-Mayer CEO Harry Sloan has been asked to step down amidst a restructuring that moves three senior executives into the office of the CEO, putting them in charge of the studio’s operations, a company spokesperson confirmed to Broadcasting & Cable. Sloan will maintain his post as chairman.

Sloan, a former lawyer and media entrepreneur, took over MGM studios in late 2005 and signed a three year extension last summer, despite the company’s continuing struggles to procure a hit and climb out of debt.

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