MGM is creating a cable network on DirectTV, called, creatively enough, MGM HD, which will show old MGM films, over 4,100 of them, in high definition. The network will premiere sometime before the end of the year, and will launch with such movies as West Side Story and Leaving Las Vegas, which is one of the great double features of all time.
There's no word on whether this will be a pay service, a subscription model, or anything like that, but you should know that, soon, you're going to be able to get all of the MGM film you want in glorious high-definition television. Also, you can look for other studios to follow the example.
Variety.com: MGM nabs library for hi-def network