Amazon announced that they had officially acquired the Movie studio behind the James Bond , Robocop, and Tomb Raider franchises, namely Metro-Goldwyn-Mayer Pictures aka MGM, for a value of USD 8.5 billion.
The acquisition of this US media company itself was first announced in May 2021 and has gone through a regulatory process.
Quoting Variety , Saturday (3/19/2022), this acquisition means all content produced by MGM will be able to fill Prime Video and Amazon Studios.
According to Amazon representatives, with the deal closing, MGM management team joins a group led by Mike Hopkins, senior VP of Prime Video and Amazon Studios.
That includes the head of the Movie, Michael De Luca, and the head of the television group, Mark Burnett. Hopkins, in a statement said, MGM has a legacy of nearly a century of producing great entertainment.
And we share their commitment to delivering a broad range of original Movies and television shows to a global audience.
European Union Regulators Approved
According to Chris Brearton, MGM Chief Operating Officer, they have been behind some of the most acclaimed and acclaimed Movies and TV series over the past century.
We look forward to continuing that tradition as we head into the next chapter with the great team at Prime Video and Amazon Studios to provide audiences with the best entertainment possible for years to come.
This deal has also been approved by the European Union antitrust regulator , as quoted from Engadget .
They decided there wasn’t much overlap between the two companies, and MGM content shouldn’t be considered a must-have compared to other studios.
Creed to James Bond
Amazon has reportedly given the Federal Trade Commission, which is said to have reviewed the purchase, a mid-March deadline to oppose or approve the acquisition.
If the agency does not file a legal challenge by that time, Amazon is free to continue with the purchase.
In a press release, Amazon claims, MGM has a catalog containing more than four thousand Movie titles, 17 thousand TV episodes, and won 180 Academy Awards and 100 Emmy Awards.
MGM was founded in 1924. Their Movies include 12 Angry Men, Basic Instinct, Creed and Rocky, Robocop, Tomb Raider, The Pink Panther, and the James Bond franchise . While some of their TV series are Fargo, The Handmaid Tale and Vikings .