Amazon is making an enormous guess on old-school Hollywood. After a number of rumors that stated a deal was in talks, the tech firm announced this morning it was shopping for MGM (Metro-Goldwyn-Mayer). Amazon pays $8.45 billion to purchase the 97-year-old firm.
Within the press launch, Amazon says its buy of MGM is primarily to spice up its movie output of Amazon Studios. Whereas that a part of the tech firm is often answerable for unique TV exhibits for Amazon Prime Video, it has seen some success in movie. Over the past a number of months, Amazon acquired movies like Borat Subsequent Moviefilm and Coming 2 America, which have turn out to be large streaming hits.
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The acquisition of MGM means Amazon can have management of over 4,000 movies, together with main franchises just like the James Bond collection, Rocky, RoboCop, Stargate, The Pink Panther, Legally Blonde, and lots of others. MGM additionally makes TV exhibits, and Amazon will quickly be capable of entry over 17,000 TV episodes from such collection as Vikings, Fargo, and most apparently, The Handmaid’s Story, which is a big hit for Disney-owned Hulu. MGM additionally makes a number of actuality exhibits, together with Survivor, The Voice, the Actual Housewives franchise, Shark Tank, and extra.
You’ll be able to guess that with all that leisure IP, Amazon will attempt to exploit it for its Prime Video streaming library. You’ll be able to doubtless count on to see new entries for a lot of of MGM’s franchises debut on Prime Video, in each new TV and movie variations (a James Bond TV present, anybody?).
Amazon didn’t announce when it expects the deal to formally shut. As with all massive purchases, will probably be topic to authorities regulatory evaluate and approvals.