Amazon buys MGM Studios for nearly US$9B
Amazon Inc said on Wednesday it is buying MGM, the fabled U.S. movie studio home to the James Bond franchise, for US$8.45 billion, giving it a huge library of films and TV shows and ramping up competition with streaming rivals led by Netflix and Disney+.
Privately held MGM, or Metro Goldwyn Mayer, was founded in 1924, and also owns the Epix cable channel and makes popular TV shows including Fargo, Vikings and Shark Tank.
“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’s very exciting and provides so many opportunities for high-quality storytelling,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios.
0 Comments