EXHIBIT 1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) (1) under the Securities Exchange Act of 1934, as amended, each of the persons named below hereby (i) consent to the joint filing by any of them of a Statement on Schedule 13D relating to the shares of common stock of Metro-Goldwyn-Mayer Inc., $0.01 par value per share, (ii) affirms that this Schedule 13D is being filed on behalf of each of the persons named below and (iii) agrees that this Joint Filing Agreement be included as an exhibit to such filings provided that, as contemplated by Rule 13d-1(k)(1)(ii), no person shall be responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.

Dated: October 4, 2004


LOC ACQUISITION COMPANY

By:		/S/ MICHAEL DOMINGUEZ
		Name: Michael Dominguez
		Title: Chairman of the Board


CREDIT SUISSE FIRST BOSTON, on behalf of the
CREDIT SUISSE FIRST BOSTON BUSINESS UNIT.

	By:	/s/ IVY DODES
		Name: Ivy Dodes
		Title: Managing Director


PROVIDENCE EQUITY PARTNERS IV L.P.

By:	Providence Equity GP IV L.P., its general partner

	By:	Providence Equity Partners IV L.L.C., its general partner

By:	/s/ MICHAEL J. ANGELAKIS
	Name: Michael J. Angelakis
	Title: Managing Director


TPG ADVISORS IV, INC.

By:		/S/ RICHARD A. EKLEBERRY
		Name: Richard A. Ekleberry
		Title: Vice President

COMCAST STUDIO INVESTMENTS, INC.

By:		/s/ JAMES P. MCCUE
		Name: James P. McCue
		Title: President

SONY CORPORATION OF AMERICA

By:		/S/ STEVEN E. KOBER
		Name: Steven E. Kober
		Title: Senior Vice President and Controller

METRO-GOLDWYN-MAYER INC SC 13D