Tom McGrath was born in Washington, DC where he attended St, John's High School. After graduating from Harvard in 1976 at the age of 19 he worked at the John F. Kennedy Center for the Performing Arts as a press agent - a stint that included the original Broadway production of "Annie" and the only international tour of the La Scala Opera.

He received an MBA from Harvard in 1980 where he wrote a thesis on the potential of the video cassette for film distribution. This thesis brought him to Columbia Pictures where he was responsible for the formation of RCA/Columbia Video and the launch of Columbia's home video business. Other work included the acquisition of Embassy Entertainment and Merv Griffin Productions (Wheel of Fortune/Jeopardy) and the comprehensive reorganization of Columbia's international TV division including the launch of International Pay TV including the Pay TV Channel Premiere in Germany.

He left Columbia to form Act III Communications with famed TV producer Norman Lear where they produced The Princess Bride, Stand by Me, Fried Green Tomatoes and other projects. Act III became the 6th largest movie theater owner in the USA and the largest affiliate of the fledgling Fox TV Network. From Act III he became President of Time Warner International and created the VIVA channel (music video) and N-TV (24-hour news) in Germany. In the UK he is responsible for the launch of Classic FM.

McGrath became President and COO of Viacom's Entertainment division in 1994 as part of the merger of Paramount Communications and Viacom. His responsibilities included Paramount Pictures and Television, Famous Music, Theme Parks, Licensing and Merchandising and many others. Among his may achievements at Viacom is the innovative creation of off-balance sheet film financing, Germany and Japanese film leasing programs and the inauguration of multiple off-balance sheet film investment funds including Melrose Partners. Other achievements included the launch of the Bubba Gump Shrimp Company chain of Restaurants, the chain of Cheers Bars and the growth of Paramount's theme park division to become the third largest Park Group in the U.S.

Tom left Viacom in 2005 to form Crossroads Media where he has led 17 acquisitions and new business launches including Broadway Across America, Broadway.com, Bug Music, Cineworld (UK) and others.

In 2014 he became President and COO of STX Entertainment, funded by TPG Growth, with additional funding from Hony Capital of China and producer Gigi Pritzker. Films at STX included Molly's Game, Bad Moms, The Gift and many others.

In 2019 McGrath became Chairman of Crossroads Live, a global producer and distributor of first class theatrical productions with operations in the UK, Australia, Southeast Asia and Mainland China. Productions include the China National tours of Cats, Evita and Chicago and the London West End production of Waitress and the Bodyguard.

McGrath has won 7 Tony Awards, the Olivier Award for Best New Musical in London's West End and two Grammy Awards for best Musical Theatre Cast Album. He is a member of the Board of Directors of DNEG, the world's largest special effects and animation company; a Trustee of the ART Theatre at Harvard University, a past Trustee of the New England Conservatory of Music; a member of the Music Academy and a Board member of the International Academy of Television Arts and Sciences.