MGM’s foray into premium television helped it to a strong third quarter, but the independent studio still hasn’t landed on a home for the 25th James Bond film.
For the three months ended September 30, MGM reported $267.7 million in revenue and $90.8 million in adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization, a common measure of profitability.
That compares with the revenue of $298.7 million and adjusted EBITDA of $53.1 million the company reported for the corresponding quarter of last year. The company’s media networks division — essentially premium cable network Epix, which MGM bought for $1 billion earlier this year — contributed $114 million of that revenue.