The news is finally here. Amazon is officially buying MGM. It’s a done deal worth billions.
For months now, there have been rumors swirling about a potential Amazon acquisition of MGM. But the deal is now out in the open.
This is a big move for Amazon, second only to their acquisition of Whole Foods back in 2017. It’s a major purchase.
Mike Hopkins, Senior VP of Prime Video and Amazon Studios, shared his thoughts in a press release. He highlighted the importance of MGM’s extensive library. He talked about using it to create and develop new content.
“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. It opens up a world of possibilities for captivating stories.”
The press release also gave us some key details about the MGM purchase.
- The price tag for MGM? A cool $8.45 billion.
- Amazon now owns MGM’s impressive collection. That’s over 4,000 films and more than 17,000 TV shows, many of which have won awards.
- The deal gives Amazon the rights to some big-name titles.. Think James Bond, Tomb Raider, Creed, Stargate. It also includes Silence of the Lambs, The Handmaid’s Tale, Vikings, Fargo, and plenty more.
We can anticipate seeing MGM titles pop up on Prime Video.. They might also show up on other platforms accessible with an Amazon Firestick/Fire TV.
This move by Amazon shows just how serious they are about streaming.. They’re clearly aiming to be a major player in this competitive market.
Just last week, AT&T and Discovery teamed up to consolidate their media assets. Their goal? To grab a bigger piece of the market.
And let’s not forget NBC’s successful launch of Peacock TV in 2020. The streaming wars are heating up. The battle for subscribers will only intensify.
MGM’s Chairman, Kevin Ulrich, also weighed in on the merger. He shared his perspective.
“Being a part of Metro Goldwyn Mayer’s incredible journey has been an honor. It took an incredibly talented team, united by a shared vision, to reach this point. The chance to bring Amazon and MGM’s rich histories together is truly inspiring.”
Want to dive deeper into the details of Amazon’s acquisition of MGM? You can find Amazon’s official press release below.
Amazon Buys MGM – Official Press Release
This merger is a big deal, and it’ll be interesting to see how it all unfolds. The impact this will have on the streaming landscape as a whole is yet to be seen. It’s something we’ll all be watching.
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