In 1986, eight years before the launch of Turner Classic Movies, Ted Turner acquired the Metro-Goldwyn-Mayer film studio for $1.5 billion. Concerns over Turner Entertainment's corporate debt load resulted in Turner selling the studio that October back to Kirk Kerkorian, from whom Turner had purchased the studio less than a year before. As part of the deal, Turner Entertainment retained ownership of MGM's library of films released up to May 9, 1986. Turner Broadcasting System was split into two companies; Turner Broadcasting System and Metro-Goldwyn-Mayer and reincorporated as MGM/UA Communications Co. COUNT 5
QSN1 How much did Ted Turner pay for Metro-Goldwyn Mayer? ANS1 $1.5 billion QSN2 In what year did Ted Turner buy Metro-Goldwyn-Mayer? ANS2 1986 QSN3 Who did Ted Turner sell Metro-Goldwyn-Mayer to? ANS3 Kirk Kerkorian QSN4 Who did Ted Turner buy Metro-Goldwyn-Mayer from? ANS4 Kirk Kerkorian QSN5 Up to what date of release did Turner retain ownership of the MGM film library? ANS5 May 9, 1986