Amazon just acquired MGM Studios for USD 8.5 Billion
Amazon's nearly USD 8.5 billion deal to purchase the film and television studio MGM is now official.
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| MGM joins Prime Video and Amazon Studios |
More titles with the Amazon Prime Video subscription?
This move appears as a strategy to keep up with Amazon Prime's competition such as Warner Media and Disney+. A year ago, WarnerMedia had a merger with Discovery, encompassing major networks like HBO, CNN, HGTV, and others.
Meanwhile, Disney bought LucasFilm and Marvel Studios. This gave the company the ability to develop exclusive content for Disney+ using storylines and beloved characters from Star Wars or the Marvel Universe. As a result, it developed hugely popular programs like Loki, WandaVision, and The Mandalorian.
The purchase means that Amazon will feature a ton of MGM content. MGM is the movie and TV studio behind iconic films like the James Bond franchise, Rocky, The Silence of the Lambs, and Legally Blonde. More recently, they've released House of Gucci.
It has more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards. Senior vice president of Prime Video and Amazon Studios Mike Hopkins further added,
MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience.
On behalf of Amazon, Hopkins welcomed MGM employees, creators, and talent to Prime Video and Amazon Studios. He also said that they are looking forward to creating even more opportunities to deliver quality storytelling to their customers.
It's still not clear when Amazon Prime subscribers will start to see the full MGM catalog.
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