Harry E. Sloan has signed a deal to carry on as MGM's chairman and CEO for three more years. Sloan signed on to revamp the ailing MGM studio in October 2005.

In March, Sloan hired former Universal Pictures vice chairman Mary Parent, who has moved aggressively during the past six months to revive MGM's production, marketing and distribution capabilities as chairman of MGM's Worldwide Motion Picture Group. He also slotted Paula Wagner and Tom Cruise to rebuild United Artists.

Sloan came to MGM from SBS Broadcasting, a European media company that he founded in 1990 and sold in 2005.

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