In one of the biggest media deals in recent times, MGM and all of its real estate went to the online giant.
We know that Metro-Goldwyn-Mayer, a long-standing Hollywood studio that is smaller by today’s telecommunications standards, has been in the bubble for months and is trying to sell itself. We also knew about a week ago that Amazon was taking a close look at the studio and its content library.
Well, that deal became official this morning when Amazon and MGM officially reached a merger agreement and a price of $ 8.45 billion.
MGM not only holds the rights to major film franchises like James Bond, Rocky, The pink panther, and the Naturally blond Title, but also the studio’s popular TV properties such as Fargo and The story of the maid.
MGM Chairman Kevin Ulrich said in a statement: “I am very proud that the MGM Lion, who long conjured up the Golden Age of Hollywood, will continue its storied history and the idea that grew out of the founding of United Artists survived in a way its founders originally intended, fueled by the talent and their vision. The ability to align MGM’s history with Amazon is an inspiring combination. ”
You can see the current table of contents for the studio at the MGM site.
This all follows last week’s big news that AT&T WarnerMedia may move to Discovery, which is dramatically changing the production and distribution landscape in Hollywood.
Amazon has generally focused on TV production for the past few years and usually presents content on the Prime platform rather than in the theater.
diversity points out that Bond is shared with Eon Productions, which has great control over the franchise (including casting and distribution). When Amazon wants 007 to go Day and date with a simultaneous theatrical and online release, it could meet resistance from Eon. And what about a streaming Bond TV show? Probably not. We have to see.
According to NBC, this is the second largest acquisition by Amazon. You acquired Whole Foods for $ 13.7 billion in 2017 if you remember.
What do you think? Is Amazon a Good Home for MGM? Let us know in the comments.