Amazon is buying MGM Studios for $8.45B

The big media consolidation continues — day after rumors swirled around Amazon’s acquisition of MGM, the online massive retailer confirmed today that it will be acquiring the nearly 100-year-old studio for a cool $8.45 billion.

The deal is another big step toward bolster Amazon’s fight in the streaming wars, with some 4,000 films. The list includes the James Bond and Rocky series and classics ranging from Fargo to Robocop to Silence of the Lambs. Also included are more than 17,000 TV shows.

“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/Prime Video SVP Mike Hopkins said in a release. “It’s very exciting and provides so many opportunities for high-quality storytelling.”

As ever with these massive deals, the acquisition is pending all sorts of regulator scrutiny.

Developing…

Source: https://techcrunch.com/2021/05/26/amazon-is-buying-mgm-studios-for-8-45b/

Join the Discussion

  • BrokerEUR/USD
    FX Pro 0.91pips. (variable) margin: 3.33%
    IG 0.6pips (fixed) margin: 3.33%
  • Back to top