Amazon Buys MGM For $8.45 Billion
Recently, we saw reports of AT&T merging WarnerMedia with Discovery. This was a huge deal, some might say even comparable to Disney’s acquisition of Fox’s entertainment assets a couple of years ago. Now, we have yet another deal to talk about, as Amazon has acquired Metro Goldwyn Mayer for $8.45 billion.
Mike Hopkins, senior vice president of Prime Video and Amazon Studios, had the following to say about MGM’s vast library.
“MGM has a vast catalog with more than 4,000 films—12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons—as well as 17,000 TV shows—including Fargo, The Handmaid’s Tale, and Vikings—that have collectively won more than 180 Academy Awards and 100 Emmys. The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM’s talented team.”
Those are a lot of recognizable titles. This list is just the surface of this vast ocean of content that MGM has put out over many decades. According to Deadline, Amazon plans on continuing MGM’s theatrical releases, which could potentially be refreshing for those who want to see installments from their favorite IP’s hit theaters after a long dry spell for some during the COVID-19 pandemic. This merger is expected to shake things up in the industry.
Source(s): Deadline