• MGM Buys Ousted CEO Gary Barber's Equity Stake for $260 Million

    10 days ago - By The Wrap

    MGM has struck a nine-figure deal to purchase the equity stake of its ousted CEO, Gary Barber, the company said on Thursday.
    Barber was dismissed abruptly in March. The arrangement will compensate Barber using the “James Bond” studio's cash on hand and its credit facility.
    More to come. Read the full statement:
    MGM Holdings Inc. today announced that it has entered into an agreement with former CEO Gary Barber, under which it will purchase Mr. Barber's remaining equity stake in MGM for $260 million, which included 274,392 shares of common stock and 3,883,529 stock options, which were...
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  • Big $260M Payout For MGM's Former Chairman/CEO Gary Barber In Official Resolution With Company

    10 days ago - By Deadline

    Gary Barber and MGM have officially parted ways in a resolution between the two parties that has MGM Holdings paying out $260M to its former chairman/CEO of eight years. This comes only three months after Barber was ousted from the company in a firing that shocked employees and the town. The moves comes after both MSNBC and Reuters reported in the past month that Barber was trying to make a run at the studio and had been meeting with investments bankers to do so.
    The...
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