Amazon officially completed the acquisition of Metro Goldwyn Mayer (MGM) movie studio for 8.45 billion US dollars. As many as 4,000 MGM movies, 17 thousand TV episodes, will soon be available to watch on Amazon Prime Video.
Amazon has been announcing the acquisition plan since 2021. Amazon also claims to have submitted all the data the US Federal Trade Commission (FTC) needed for review, so they can evaluate the acquisition.
Previously there were rumors that the authorities would oppose the planned acquisition. However, it was not proven after a year had passed.
Amazon kept its promise and announced the deal to buy MGM had been completed. As a result, MGM line-up of major movies such as Thelma & Louise, The Silence of the Lambs, The Magnificent Seven, Raging Bull, and other MGM classics will soon be integrated into Amazon Prime Video.
Also, long-running franchises like James Bond, Rocky and others, will eventually become available.
MGM has a nearly century-old heritage of producing great entertainment, and we share their commitment to delivering a broad range of original movies and television shows to global audiences, said Mike Hopkins, Senior Vice President (SVP) Prime Video and Amazon Studios. from Techspot, Friday (18/3/2022).
News We welcome MGM Employees, content 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, Mike added.
Amazon acquisition of MGM is predicted to expand its Prime Video lineup. In addition to Amazon, Warnermedia also announced it would join forces with Discovery to create a new global entertainment company. HBO Max (Warner) and Discovery+ are currently known to be two separate applications.
Both are also mentioned will soon merge into a major streaming service.
News Amazon and MGM announce that MGM has merged with Prime Video and Amazon Studios, the companies said in a joint statement.
The European Commission, which regulates competition issues in the EU, said in a statement on Tuesday (15/3) that the deal deals no competition issues and resolved the case unconditionally. According to reports, the US Federal Trade Commission (FTC) has until mid-March to make a decision on whether to approve the takeover.
The FTC declined to comment on the deal. For information, MGM owns the rights to production of movies including the James Bond , Rocky , Legally Blonde , and Tomb Raider franchises , and television shows such as The Handmaid Tale and The Real Housewives of Beverly Hills .