1986, TedTurner and his Turner Broadcasting System purchased Metro-Goldwyn-Mayer (MGM) from Kirk Kerkorian for $1.5 billion, and renamed it MGM Entertainment
original programs and newer reruns. Turner would later create Turner Classic Movies (TCM) in 1994, airing Turner's pre-1986 MGM library of films alongside those
sold MGM to TedTurner, who retained the rights to the MGM film library, sold the studio lot in Culver City to Lorimar, and sold the remnants of MGM back
Enterprises. Turner Broadcasting System (via Turner Entertainment Co.) took over the library in 1986 after TedTurner's short-lived ownership of MGM/UA. When