Latest / Family Business Stories with Fexingo: Succession, Legacy, and Multi-Generational Companies
How the Kerkorian Family Lost Control of MGM
In this episode, we explore how Kirk Kerkorian built MGM into a Hollywood empire through a series of leveraged buyouts and takeovers, and how after his death his family's lack of interest in the movie business led to the studio being sold to Amazon. We trace Kerkorian's career from a $50,000 loan to buy a Las Vegas casino to his $8 billion sale of MGM, and examine why the family foundation chose to cash out rather than hold on. A cautionary tale about succession planning and the risks of a founder-centric corporate structure.
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The skinny
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