Amazon agrees to purchase MGM at $8.45 Billion : Bollywood Information – Bollywood Hungama

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Amazon and MGM right this moment introduced that they’ve entered right into a definitive merger settlement underneath which Amazon will purchase MGM for a purchase order worth of $8.45 billion. MGM has practically a century of filmmaking historical past and enhances the work of Amazon Studios, which has primarily targeted on producing TV present programming. Amazon will assist protect MGM’s heritage and catalog of movies and supply clients with better entry to those present works. Via this acquisition, Amazon would empower MGM to proceed to do what they do finest: nice storytelling.

“MGM has an enormous catalog with greater than 4,000 movies—12 Offended Males, Primary Intuition, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and lots of different icons—in addition to 17,000 TV exhibits—together with Fargo, The Handmaid’s Story, and Vikings—which have collectively gained greater than 180 Academy Awards and 100 Emmys,” mentioned Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios. “The true monetary worth behind this deal is the treasure trove of IP within the deep catalog that we plan to reimagine and develop along with MGM’s proficient workforce. It’s very thrilling and offers so many alternatives for high-quality storytelling.”

“It has been an honor to have been part of the unimaginable transformation of Metro Goldwyn Mayer. To get right here took immensely proficient folks with a real perception in a single imaginative and prescient. On behalf of the Board, I want to thank the MGM workforce who’ve helped us arrive at this historic day,” mentioned Kevin Ulrich, Chairman of the Board of Administrators of MGM. “I’m very proud that MGM’s Lion, which has lengthy evoked the Golden Age of Hollywood, will proceed its storied historical past, and the concept born from the creation of United Artists lives on in a manner the founders initially meant, pushed by the expertise and their imaginative and prescient. The chance to align MGM’s storied historical past with Amazon is an inspiring mixture.”

Completion of this transaction is topic to regulatory approvals and different customary closing circumstances.

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