$8.5 Billion MGM Amazon Merger Finalized

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MGM Amazon merger was completed and the tech giant acquired the Hollywood studio for $8.5 billion. This is Amazon’s second-largest buy to date, only behind its $13.7 billion acquisition of Whole Foods in 2017.In a statement Mike Hopkins, SVP of Prime Video and Amazon Studios said the following about the MGM Amazon merger:“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.

We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers.”Popular releases transferred with MGM Amazon mergerMGM Studios owns the rights to more than 4,000 films—including the James Bond and Rocky franchises—and more than 17,000 hours of TV, including The Handmaid’s Tale, Shark Tank, and Survivor.$8.5 billion MGM Amazon merger finalized.Chris Brearton, COO of MGM, said in a statement about MGM Amazon merger that:“We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family.

MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come.”Amazon’s acquisition of the streaming rights to MGM’s vast library further solidifies its dominant position in the streaming industry, giving it access to MGM’s considerable collection. After the expiration of Sony’s distribution deal in 2015, Amazon acquired co-ownership of the James Bond brand as a result of its buy.

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