Amazon to buy MGM Studios and its Media Library for $8.45 Billion

Amazon to buy MGM for $8.45 Billion

Amazon will purchase Metro-Goldwyn-Mayer Studios Inc. for $8.45 Billion after the deal is approved by U.S. regulators. MGM, the film and television show studio, along with its media library, have been on the market for some time. It was Amazon, with its deep pockets (Amazon has a market cap of $1.7 Trillion) and its thirst for bolstering its streaming media library, that was finally able to close the deal.

The deal brings over 4,000 movies and 17,000 hours of television show viewing time to Amazon’s streaming service, Amazon Prime Video. It also provides Amazon with what is most valuable to a streaming service – exclusive content that can’t be obtained anywhere else.

Some of that exclusive content includes: Rain Man, Dances with Wolves, The Silence of the Lambs, Robocop, the Rocky film franchise, the Creed film franchise, the James Bond film franchise, and the Legally Blonde film franchise to name a few.

Regarding TV shows, some of those TV shows include: Vikings, Survivor, Stargate, Fargo, and Teen Wolf.

Prime Video and Amazon Studios Senior Vice President Mike Hopkins had this to say about the acquisition of MGM:

“The 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’s talented team. It’s very exciting and provides so many opportunities for high-quality storytelling”

What SVP Hopkins is basically saying is that remakes and TV shows based on MGM’s acquired films, new franchises, reboots, and “re-imaginings”, are all on the table. Many new content doors have flown open because of Amazon’s acquisition of MGM, not just those that came with the deal.

When this acquisition is complete, Amazon will move up into the fourth slot when it comes to streaming services, behind Netflix, Disney+, and HBO Max.

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