Also. . .

Santa Monica-based Metro-Goldwyn-Mayer Inc. sold shares in a $180-million initial public offering intended to go toward reducing the film studio’s debt load, said Merrill Lynch & Co., which managed the sale. The 9 million shares sold were at the bottom of the expected range of $20 to $23 a share. The studio has a market value of about $1.3 billion, according to the IPO filing. . . . Los Angeles-based SmarTalk TeleServices Inc. reported third-quarter net income of $478,000, or 3 cents per share, contrasted with a loss of $1.16 million, or 12 cents, a year ago. The company also said Jeff Lindauer, the former head of MCI’s prepaid phone card division, was named president. . . . Fresno-based Gottschalk Inc. reported a third-quarter loss of $1.5 million, or 14 cents per share, compared with a loss of $1.5 million, or 15 cents, a year ago.

. . . Richard E. Goodspeed, president and chief operating officer of Pleasanton-based Safeway Inc.’s Vons division, will retire in April and will be succeeded by Richard Dreiling, senior vice president of marketing operations.