It divested itself of the Loews movie theater chain and, in 1956, expanded into television production.

Its most prosperous era, from 1926 to 1959, was bracketed by two productions of Ben Hur. MGM also owned film studios, movie lots, movie theaters and technical production facilities. It hired a number of well-known actors as contract players-its slogan was 'more stars than there are in heaven'-and soon became Hollywood's most prestigious filmmaking company, producing popular musical films and winning many Academy Awards. MGM was formed by Marcus Loew by combining Metro Pictures, Goldwyn Pictures and Louis B.