Amazon is making an enormous guess on old-school Hollywood. After a number of rumors that mentioned a deal was in talks, the tech firm introduced this morning it was shopping for MGM (Metro-Goldwyn-Mayer). Amazon pays $8.45 billion to purchase the 97-year-old firm.
Within the press launch, Amazon says its buy of MGM is primarily to spice up its movie output of Amazon Studios. Whereas that a part of the tech firm is often answerable for unique TV reveals for Amazon Prime Video, it has seen some success in movie. During the last a number of months, Amazon acquired movies like Borat Subsequent Moviefilm and Coming 2 America, which have turn into large streaming hits.
Learn extra: The most effective James Bond films
The acquisition of MGM means Amazon could have management of over 4,000 movies, together with main franchises just like the James Bond sequence, Rocky, RoboCop, Stargate, The Pink Panther, Legally Blonde, and lots of others. MGM additionally makes TV reveals, and Amazon will quickly be capable to entry over 17,000 TV episodes from such sequence as Vikings, Fargo, and most curiously, The Handmaid’s Story, which is a large hit for Disney-owned Hulu. MGM additionally makes a number of actuality reveals, together with Survivor, The Voice, the Actual Housewives franchise, Shark Tank, and extra.
You possibly can guess that with all that leisure IP, Amazon will attempt to exploit it for its Prime Video streaming library. You possibly can seemingly count on to see new entries for a lot of of MGM’s franchises debut on Prime Video, in each new TV and movie variations (a James Bond TV present, anybody?).
Amazon didn’t announce when it expects the deal to formally shut. As with all giant purchases, will probably be topic to authorities regulatory evaluate and approvals.
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