Kirk Kerkorian's long career of bold investments - Los Angeles Times
1947: Kirk Kerkorian buys an air charter called Los Angeles Air Service for $60,000. It owns a DC-3, a Beechcraft and a Cessna. 1962: Sells the airline to Studebaker Corp. 1968: Acquires controlling 30% stake in Los Angeles-based Western Airlines. and sells 17% to the public for $26. 5 million. The company acquires the Flamingo hotel-casino in Las Vegas and builds the International, the first successful Las Vegas casino not on the Strip. 1970-71 : Sells two Las Vegas hotels to Hilton Hotels. 1973: Reenters casino gambling with construction of MGM Grand Hotel in Las Vegas. 1976: Sells remaining 17% stake in Western Airlines back to the company for $30. 6 million. 1980: Spins off MGM casino operations into separate public company, retaining controlling stakes in both. 1982: Creates MGM/UA Home Entertainment to license MGM films for home video, sells 15% of the stock to the public, then buys it. Source: www.latimes.com
