ENTERTAINMENT

MGM’s Historic Name Restored: Trying to distance itself from its recent troubles, MGM-Pathe Communications Co. has changed its name to Metro-Goldwyn-Mayer Inc. “Restoring the studio’s historic name has particular significance at this time, since we have embarked on an aggressive campaign under new ownership to reclaim the quality and luster that Metro-Goldwyn-Mayer represented for so many years,” Alan Ladd Jr. and Dennis Stanfill, co-chairmen, said. MGM was formed in 1924 by bringing together Metro Pictures, Goldwyn Pictures and Louis B. Mayer Productions. The studio was sold numerous times before finally coming under the ownership of Italian financier Giancarlo Parretti two years ago. But Parretti was unable to cover the debts of the $1.3-billion purchase and eventually was ousted from the helm of the studio by his main lender, French bank Credit Lyonnais.