Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Marcus Loew MGM
Investors and Entrepreneurs

Marcus Loew: creator of the Metro-Goldwyn-Mayer movie empire

26.02.2023
2 min read

How Marcus Loew built his chain of movie theatres and the MGM company

Marcus Loew created the famous film company Metro-Goldwyn-Mayer, which gave audiences a huge number of films that became classics. He managed to build a media empire that is still running a successful business.
Marcus was born in 1870 in New York to an immigrant family. The boy had to start earning early to support his relatives, so education or even completing a full course of school was out of the question. However, Loew always wanted to get out of such a situation and, as a laborer, he accumulated a certain amount of money and directed it to create his own business. Marcus bought a hall with slot machines, and then, combining capital with a number of entrepreneurs, bought a cinema, where the session was only 5 cents. These movie theaters were called “nickelodeon” and were designed for people with low incomes. After a while, one such facility grew into the Loew’s Theater chain, which included a large number of movie theaters and a variety of theaters in different states of the United States.
In 1904 the entrepreneur created the People’s Vaudeville Company, where in addition to showing short films, you could see live variety shows. Marcus’s business developed well, but another problem arose – it was necessary to provide the network with more content so that consumers would not lose interest. So by 1910, Loew’s company had grown to be called Loew’s Consolidated Enterprises, incorporating the partners with whom Marcus had started his business.Marcus LoewIn the 1920s, the businessman acquired the Metro Pictures Corporation film production. After some time Loew decided to expand its film empire and bought shares of Goldwyn Picture. Last at that time was on the verge of bankruptcy. It should be noted that Goldwyn Picture owned the logo, which is now used for Metro-Goldwyn-Mayer.
Before the acquisition, Samuel Goldwyn ran Goldwyn Picture, but after that the management chair was vacant. Then Marcus left the chain of theaters to his partners, and he went to Los Angeles to build effective processes. And Loew was not going to move from New York, because his work was closely related to the theater business.
However, after the production of the film “Ben-Hur” cost the company unexpectedly expensive, there were financial difficulties. Marcus then turned to Louis Mayer, who owned a small film production company, for help. By 1924 Loew bought out the latter’s business and created the MGM conglomerate.
Unfortunately, Marcus did not catch the heyday of his film empire, he died at the age of 57 from a heart attack. However, Loew is still an essential figure in the film industry. Thanks to him cinemas began to develop actively, becoming not just an affordable way to spend time, but also a method of joining the art and getting aesthetic pleasure.

Tags: Investors and Entrepreneurs
0
Previous Post Development strategy of China's Sinopec Corporation Next Post Sri Lanka offers visas in exchange for investment

You Might Also Like

Abigail Johnson
Investors and Entrepreneurs
Abigail Johnson: one of the world’s most powerful women
10.06.2023
Stephen Cohen
Investors and Entrepreneurs
American trader Stephen Cohen: The businessman’s success story
02.12.2021
William Sharpe
Investors and Entrepreneurs
Outstanding economist William Sharpe and his contribution to market development
26.01.2021
Kirk Kerkorian
Investors and Entrepreneurs
Businessman Kirk Kerkorian: the billionaire’s story
21.04.2022
investor Cathie Wood
Investors and Entrepreneurs
Who is investor Cathie Wood and what makes her unique
08.07.2022
martha-stewart-1
Investors and Entrepreneurs
Biography of Martha Stewart, the most famous housewife in the United States
03.10.2021

Recent Posts

  • 1Padmasree Warrior business
    Businesswoman Padmasree Warrior’s career path
    26.09.2023
  • 2Raytheon
    How the Raytheon Company gave the world microwaves and the Patriot system
    24.09.2023
  • 3Forex drawdown
    Forex drawdown and why you shouldn’t be afraid of it
    22.09.2023
  • 4investment in Turkey's steel industry
    Yıldız increases investment in the Turkish steel industry
    20.09.2023
  • 5Abu Dhabi Exchange
    The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
    18.09.2023

Popular Posts

  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

Padmasree Warrior business
Businesswoman Padmasree Warrior’s career path
26.09.2023
Raytheon
How the Raytheon Company gave the world microwaves and the Patriot system
24.09.2023
Forex drawdown
Forex drawdown and why you shouldn’t be afraid of it
22.09.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Rise in gold prices: reasons for increased interest in the metal
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics