In 1997, MGM purchased most of Metromedia's holdings, including Orion Pictures, Goldwyn Entertainment and MPCA, bringing their film library to over 3,800 titles. Sony Corp. reached a deal to acquire MGM for $4.85 billion. Sony will control the 4,000-plus title MGM library, which includes franchises James Bond, Pink Panther and Rocky. Part of the deal calls for MGM to remain a stand-alone private company. Sony will co-finance and produce new films with MGM and distribute existing MGM content. The former independent studio now exists as a privately held company whose primary function is to exploit a 4,000-title library and co-produce film and television projects with parent company Sony Pictures. (9/04) MGM's Chief Financial Officer Dan Taylor has been named President of MGM Pictures with the finalization of the Sony deal. Chris McGurk and Kirk Kerkorian have resigned from the company. (2/05) Signed non-exclusive distribution deals with Weinstein Co., Bauer Martinez, Lakeshore Entertainment and Sidney Kimmel Ent. (3/06)