MGM's musical stars of a half-century ago, including Debbie Reynolds, Mickey Rooney, Esther Williams and Cyd Charise, took the stage at the Motion Picture Academy to once again bask in photographers' flashes and wild applause.

The occasion was a 30th anniversary screening of the 1974 paean to MGM's golden age of the movie musical, That's Entertainment" presented in a newly restored digital version.

The Friday night event, planned weeks ago, happened to fall at the end of a week when MGM tentatively agreed to be acquired by a group led by Sony, meaning MGM may soon disappear as an independent studio.

"This is a night that will live in irony," said Roger Mayer, a longtime MGM executive and emcee for the evening.

Still, it was a night for celebration, and the audience cheered the stars as they came on stage.

Reynolds, Rooney, Williams, Charisse, Tony Martin, Arlene Dahl, Betty Garrett, Julie Newmar, Virginia O'Brien, Janis Paige and Russ Tamblyn each took the microphone for a brief remark then together posed for a class photo.

Reynolds cracked: "We're all delighted to be here. We're all happy to be alive."

The Hollywood musical became a rarity starting in the 1960s and then virtually disappeared. At Friday's reception, stars were asked why.