Amazon and MGM today detailed that they have gone into a definitive merger agreement under which Amazon will get MGM at a purchase cost of $8.45 billion. MGM has just about 100 years of filmmaking history and enhancements created by Amazon Studios, which has mainly based on producing TV show programming. Amazon will help save MGM’s heritage and catalog of motion pictures, and outfit customers with more critical access to these current works. Through this getting, Amazon would connect with MGM to continue doing what they spend significant time in: extraordinary storytelling.
Amazon Strikes A Deal With MGM Studios
“MGM has a colossal catalog with more than 4,000 motion pictures?12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma and Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and various images?similarly as 17,000 TV shows?including Fargo, The Handmaid’s Tale, and Vikings?that have all around won more than 180 Academy Awards and 100 Emmys,” said Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios. “The real financial value behind this course of action is the hidden gold mine of IP in the significant catalog that we intend to reevaluate and encourage alongside MGM’s gifted team. It’s stimulating and gives such endless opportunities to first rate storytelling.”
“It has been an honor to have been a piece of the awesome difference in Metro Goldwyn Mayer. To show up took hugely talented people with a certifiable trust in one vision. To help the Board, I should thank the MGM team who have helped us with showing up this imperative day,” said Kevin Ulrich, Chairman of the Board of Directors of MGM. “I’m incredibly satisfied that MGM’s Lion, which has since quite a while past evoked the Golden Age of Hollywood, will continue with its praised history, and the idea brought into the world from the development of United Artists lives on in a way the coordinators at first expected, driven by the capacity and their vision. The opportunity to change MGM’s praised history with Amazon is a rousing mix.” Finish of this transaction is reliant upon regulatory approvals and other customary closing conditions.