Confirmed: Amazon Buys MGM-Studios

(Last Updated On: May 26, 2021)

Courtesy of Metro-Goldwyn-Mayer

It’s now confirmed that the expected transaction from the e-commerce to purchase the studio behind the iconic James Bond.

The price tag is $8.4 billion when Amazon is set to purchase the studio. There have also been weeks and months of speculation about whether if this would happen. With the Disney/Fox, Discover/Warner merge it should be a surprise that the legendary studio also gets involved in a new streaming era and the war for paying customers. Amazon has declined to comment on the acquisition as there is no press conference too. The studio’s deal is probably a no-problem thing as the company is worth $1.6 trillion on the market.

According to former CEO Bezos, Prime has now 175 million members and the studio itself has earned 12 Oscars nominations and 2 wins.

“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 SevenThe 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,” said Mike Hopkins, senior VP of Prime Video and Amazon Studios. “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.”

Amazon Studios has mentioned it wants to preserve the soul and integrity of the studios’ library.

“It has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer. To get here took immensely talented people with a true belief in one vision. On behalf of the Board, I would like to thank the MGM team who have helped us arrive at this historic day,” said Ulrich. “I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM’s storied history with Amazon is an inspiring combination,” he added.

Neither of the companies knowns for real when the deal is done. The merge between Disney/Fox took one-two years before completed.

Source: Deadline.com

 

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