Home Business Amazon buys Hollywood studio Metro-Goldwyn-Mayer for $ 8.75 billion

Amazon buys Hollywood studio Metro-Goldwyn-Mayer for $ 8.75 billion

by Ashish

Amazon announces its agreement to acquire Hollywood studio MGM (Metro-Goldwyn-Mayer) and its entire library of content, which includes over 4,000 films and 17,000 hours of TV series.

MGM’s films and TV shows have collectively won over 180 Academy Awards and 100 Emmy Awards. The studio is known for its James Bond films, Legally Blonde, Poltergeist, Robocop, Rocky, The Silence of the Lambs, Tomb Raider, and Creed, as well as the TV series Fargo, The Handmaid’s Tale “And” Vikings “.

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Amazon has invested heavily in the creation of original TV series and films exclusive to Prime video. The acquisition will allow the platform to compete with Disney + and Netflix on a larger scale. Amazon believes MGM’s catalog will complement Amazon Studios’ range well.

The real financial value of this deal is a treasure trove of intellectual property in a vast catalog that we plan to reimagine and develop with the talented MGM team. It’s very exciting and provides so many opportunities for quality storytelling.

Mike Hopkins, Senior Vice President, Prime Video and Amazon Studios

|Via|

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