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2004 total: $195.0 million
Market share: 2.1%
Films tracked: 15
Top film: "Barbershop 2: Back in Business" ($249.4)

Marking the true end of an era, MGM will cease to be a stand-alone studio this year once its purchase by a Sony-led consortium is completed. After years during which majority owner Kirk Kerkorian put the studio on and off the block -- and months of uncertainty during which both Sony and Time Warner circled the studio -- CEO Alex Yemenidjian and chief operating officer Chris McGurk closed out a year in which MGM did not leave a major impact at the boxoffice. But, ironically, they managed to put in place what they consider one of the strongest upcoming slates in recent studio history. Amid all the question marks about the company's future, the fact that MGM's staff remained focused on the product was an accomplishment in itself. While MGM celebrated its history when the Cole Porter biopic "De-Lovely" played as the closing-night attraction at the Festival de Cannes, back in the United States, "Barbershop 2: Back in Business" established itself as an urban hit. "We had a great year," McGurk says. "We are handing over one of the strongest slates in memory. We have tripled the value of the library and home video. There have been some great innovations in ideas to using the library, and this has all been key to the transaction."

On the screenMGM's biggest success of the year, "Barbershop 2" took in $65 million domestically. Its closest competition came from the remake "Walking Tall," starring Dwayne "The Rock" Johnson, which grossed $46 million. "De-Lovely," filmed for an economic budget of less than $15 million, brought in $13.3 million but never really broke out of the specialty film market.

"Agent Cody Banks: Destination London," a sequel to 2003's "Agent Cody Banks," notched just $23 million, falling short of the $48 million domestic haul of the original. The urban comedy "Soul Plane," intended as early summer counter-programming, failed to take off.

Still, McGurk considers the 2004 slate's success ratio far greater than the studio initially calculated in devising its strategy of producing a slate of high-concept, low-budget films. "We had a mixed bag of success," McGurk says. "We have had some great results despite all of the distraction. Everybody has been focused on producing, despite the transaction, because everyone wants to go out of here on the highest note possible before the lights go out."

On the lot: Despite the uncertainty, MGM continued to sign new housekeeping deals, most notably with producer Bob Simonds, who oversaw the upcoming "Pink Panther" movie starring Steve Martin. The company also signed a first-look deal with Jennifer Klein's Apartment 3B Prods. as well as pacts with AG Prods., the Jim Henson Co. and Pense Prods.

Meanwhile, MGM is pressing ahead with a number of new projects, including its next James Bond movie, which Martin Campbell has signed on to direct. It also is producing a sequel to "The Thomas Crown Affair" called "The Topkapi Affair"; a remake of "Yours, Mine and Ours"; the horror-thriller "Blood and Chocolate"; and the spoof "Harry Trotter: Lord of the Balls." The company is working on "Witness for the Prosecution," with Al Pacino, and several other films including "Hexxx," "Mexicali," the basketball film "Street," "Basic Instinct 2," "Breaking Vegas," with Brett Ratner directing, and the Usher project "Step in the Name of Love."

Next: "It's always the way," McGurk says of leaving behind a strong slate. Titles scheduled for release this year include "The Amityville Horror" remake; the "Get Shorty" sequel, "Be Cool," starring John Travolta and Uma Thurman; "The Pink Panther"; "Into the Blue," with Paul Walker and Jessica Alba; and the "Barbershop" spinoff, "Beauty Shop," starring Queen Latifah. The studio also is hoping for some awards attention for "De-Lovely" and its United Artists release, "Hotel Rwanda."

Going forward, it is expected that Sony Pictures Entertainment will distribute MGM's film and television content as well as co-finance and produce new films with MGM. In addition, SPE has agreed, along with its equity partners and deal partner Comcast, on a broad programming and distribution arrangement that will allow for the distribution of SPE and MGM content on Comcast's video-on-demand platform and for the creation of a joint venture, establishing new cable channels featuring SPE and MGM product.

Says McGurk, "I think that we have the best group of employees in the business and that they have ensured that we are going out in an environment of success. I am very proud of what we have achieved. It's very emotional to watch these people work away so hard before we all say goodbye."