Metro-Goldwyn-Mayer Chief Financial Officer Daniel Taylor was tapped Thursday to become president of the studio following the completion of the $5 billion purchase of the studio by a Sony Pictures Entertainment-led consortium of investors.

As president of MGM Mr. Taylor will oversee all operations at MGM, including the development and production of film and television product, and will be responsible for working with cable giant Comcast in leveraging MGM’s library for distribution opportunities.

Mr. Taylor has had ties to MGM since 1985, working at the studio during two stints. He first joined 20 years ago and stayed until 1991, when he went to Kirk Kerkorian’s Tracinda Corp. Mr. Taylor rejoined MGM in 1997 as executive VP of corporate finance, later becoming CFO.