It’s not just Disney buying movie studios, and Amazon just spent $8.5 billion on one that’s legendary.
MGM (Metro-Goldwyn-Mayer) It was founded in 1924 and in its catalog there are more than 4,000 films that have won 180 Oscars and 17,000 television episodes with which they have won more than 100 Emmy awards. But they have been having financial problems for a long time and now they belong to amazonafter the purchase agreement has been reached for 8,500 million dollars.
“Together, the teams will provide more quality entertainment options for viewers.” It can be read in a short press release from Amazon.
“We share MGM’s commitment to bringing a wide range of original movies and television shows to a global audience.” Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said in a statement. He added that they would welcome the studio’s employees, creators and talent as: “We look forward to working together to create even more opportunities to deliver quality storytelling to our customers.”
Chris Breaton, MGM’s chief operating officer, described the business deal as exciting in the press release.
“MGM has been responsible for creating some of the best-known and most critically acclaimed movies and television series of the last century. We look forward to continuing that tradition as we move into this next chapter, teaming up with the great team at Prime Video and Amazon Studios to bring audiences the best in entertainment for years to come.”
The deal comes on the heels of its approval by European Union antitrust regulators. Since the European Commission found that the overlaps between Amazon and MGM were, in fact, limited. Meanwhile, the US Federal Trade Commission has yet to publicly challenge or approve the transaction.
On the MGM catalog we can find James Bond, Rocky, Thelma and Louise, The Silence of the Lambs, The Magnificent Seven, Raging Bull, The Graduate, Twelve Angry Men: Final Verdict and much more.