Metro-Goldwyn-Mayer Studios, Inc. (also known as Metro-Goldwyn-Mayer Pictures, Metro-Goldwyn-Mayer, or simply MGM) is an American media company, involved primarily in the production and distribution of films and television programs. Once the largest and most glamorous of film studios, MGM was founded in 1924 when the entertainment entrepreneur Marcus Loew gained control of Metro Pictures, Goldwyn Pictures Corporation and Louis B. Mayer Pictures. Its headquarters are in Beverly Hills, California. It is one of the oldest mini-major film studios and a former major film studio. In 1971, it was announced that MGM would merge with 20th Century Fox, a plan which never came into fruition. Over the next thirty-nine years, the studio was bought and sold at various points in its history until, on November 3, 2010, MGM filed for Chapter 11 bankruptcy. MGM emerged from bankruptcy on December 20, 2010, at which time the executives of Spyglass Entertainment, Gary Barber and Roger Birnbaum, became co-Chairmen and co-CEOs of the holding company of Metro-Goldwyn-Mayer.