MGM stands for Metro-Goldwyn-Mayer, a film and TV production and distribution company. Disney originally contracted with MGM to use the name for the Disney-MGM Studios theme park in Florida. As of January 2008, MGM is no longer associated with the park except for specific licenses for MGM material on the Great Movie Ride. The theme park's name has been changed to Disney Hollywood Studios.
Since the Disney Corporation owns the Disney Parks, and since (what was formerly called MGM) is one of these parks, Disney does own the park. However, the MGM(Metro Goldwyn Mayer) company has split from Disney and is now it's own separate entity, so in this case, Disney doesn't own MGM.
Disney-MGM studios (now known as Disney's Hollywood Studios) opened on May 1, 1989.
Disney's Hollywood Studios opened as Disney MGM Studios on May 1, 1989.
Walt Disney himself planned out the original Disneyland park in Anahiem. He had plans for Disney World's Magic Kingdom and Epcot but he didn't live to see them completed. Disney imagineers later then created California Adventure, MGM, and Animal Kingdom.
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The letters MGM stand for Metro Goldwyn Mayer. MGM has been used in many forms of media, such as movies, and previously one of the theme parks in Walt Disney World.
Since the Disney Corporation owns the Disney Parks, and since (what was formerly called MGM) is one of these parks, Disney does own the park. However, the MGM(Metro Goldwyn Mayer) company has split from Disney and is now it's own separate entity, so in this case, Disney doesn't own MGM.
The tallest ride is Disney MGM Studios is The Tower of Terror.
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Disney-MGM studios (now known as Disney's Hollywood Studios) opened on May 1, 1989.
Disney's Hollywood Studios opened as Disney MGM Studios on May 1, 1989.
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MGM is now called Hollywood Studios b/c Disney's contract with MGM expired. To answer your question, Hollywood Studios (MGM) and Magic Kingdom are two separate parks at DisneyWorld.
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A place where they create movies.
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Disney's Hollywood Studios