ENTERTAINMENT : Kissinger to Advise Boards of MGM, Credit Lyonnais

Metro-Goldwyn-Mayer used to boast that it had “more stars than there are in heaven.” Now it has almost as many media stars serving as advisers.

Former Secretary of State Henry Kissinger on Tuesday was named a consultant to the boards of both MGM and parent Credit Lyonnais. He joins such luminaries as director Francis Ford Coppola, previously named to MGM’s board, and Creative Artists Agency Chairman Michael S. Ovitz, who was retained by Credit Lyonnais last year to advise it on what to do with MGM.

The specifics of what Kissinger--now chairman of the Kissinger Associates consulting firm--will do for the companies aren’t clear. MGM and Credit Lyonnais said in a statement that they plan to tap his insight into global economic issues. His renowned statesmanship may also be helpful.

Peace has rarely been at hand in recent years at the venerable studio, which Credit Lyonnais seized in 1992 when former owner Giancarlo Parretti defaulted on his loans. The bank is aiming to sell the studio, which hasn’t had a major hit in three years, by 1997. A new slate of pictures developed by its year-old management team, led by former Paramount Pictures Chairman Frank Mancuso, is scheduled to premiere during the upcoming holiday season.