Amazon and MGM today announced that they have entered into a definitive merger agreement under which Amazon will acquire MGM for a purchase price of $8.45 Bn.
Amazon Studios, which has focused primarily on television show production, is now empowered with MGM’s capabilities, know-how and portfolio of iconic titles – studios with a century of film history.
In return, Amazon will help preserve MGM’s movie heritage and catalog, and provide customers with greater access to these cinematographic works. Through this acquisition, Amazon would allow MGM to continue doing what it does best: great audiovisual storytelling.
Completion of this transaction is subject to regulatory approvals and other customary closing conditions.<\/p>\n\n\n\n
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\u201cMGM has a vast catalog with more than 4,000 films\u201412 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons\u2014as well as 17,000 TV shows\u2014including Fargo, The Handmaid\u2019s Tale, and Vikings\u2014that have collectively won more than 180 Academy Awards and 100 Emmys,\u201d said Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios. \u201cThe 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\u2019s talented team. It\u2019s very exciting and provides so many opportunities for high-quality storytelling.\u201d<\/p>\n\n\n\n
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\u201cIt has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer. To get here took immensely talented people with a true belief in one vision. On behalf of the Board, I would like to thank the MGM team who have helped us arrive at this historic day,\u201d said Kevin Ulrich, Chairman of the Board of Directors of MGM. \u201cI am very proud that MGM\u2019s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM\u2019s storied history with Amazon is an inspiring combination.\u201d<\/p>\n\n\n\n
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