The two top executives at Metro Goldwyn Mayer — Michael De Luca and Pamela Abdy — introduced their impending departures on Wednesday, one month after Amazon closed its $8.5 billion acquisition of the movie studio.
In a memo to staff, Mr. De Luca and Ms. Abdy mentioned they would depart this summer season.
“We came to MGM to help restore its vibrancy among the storied studios of the last century, and we are proud to say, thanks to all of you and your efforts, it is mission accomplished,” they mentioned within the memo. “With our goal achieved, and as we look ahead, we feel now is the right time for us to move on and explore our next chapter and challenge.”
Brought on board in early 2020 in an effort to bolster the studio and prepared it for a sale, the executives put collectively an formidable — if not completely profitable — theatrical slate, working with such filmmakers as Ridley Scott, Paul Thomas Anderson and Joe Wright. Committed to theatrical distribution, the corporate was hampered when audiences largely stayed away from theaters through the pandemic. Mr. Scott’s “House of Gucci” introduced in over $156 million, however the studio’s formidable remake of “Cyrano” from Mr. Wright barely crossed $6 million.
Channing Tatum’s “Dog” was a shock hit, grossing $76 million worldwide. MGM additionally nabbed a finest image Oscar nomination — the studio’s first in additional than 30 years — for Mr. Anderson’s “Licorice Pizza.”
Mr. De Luca and Ms. Abdy efficiently rejiggered the newest iteration of the James Bond franchise, in the end delaying the movie for a 12 months earlier than releasing “No Time to Die” in 2021 to the tune of $774 million worldwide.
News of the executives’ departure was reported earlier by The Hollywood Reporter.
In one other memo to staff, Amazon’s top Prime Video govt, Mike Hopkins, mentioned he would proceed Mr. DeLuca and Ms. Abdy’s legacy of nurturing “quality storytelling.” He added that “is only going to expand, as we invest and work together to release an even larger theatrical slate in the years ahead.”
The completely different ways in which MGM and Amazon function have been all the time going to make that marriage a troublesome one for Mr. De Luca and Ms. Abdy. Amazon stays at its core a know-how firm primarily pushed by knowledge. In distinction, Mr. De Luca and Ms. Abdy, each veterans of the studio system, have been raised within the tradition of Hollywood the place long-term relationships and intestine emotions drive selections on what films to make.