Amazon buys MGM for a very high price. The deal was eventually a rumour just a couple of weeks ago. But we now learn that it is true.
Amazon buys MGM for a whopping $8.45 Billion
According to the latest announcements, the deal is now official. Right now, Amazon buys MGM for $8.45 instead of $9.00 Billion. The $9.00 billion was the rumoured number actually. But from what it looks like, the rumours were eventually close to the truth. The fairly recent announcement highlighted MGM’s nearly century-old filmmaking history, and also noted the completion of Amazon Studios’ work, which mostly focused on television production.
Following this acquisition, Amazon will help preserve MGM’s legacy and film catalogue and will give its customers greater access to these existing works. Thanks to the acquisition, Amazon will also empower MGM to continue doing what it does best. MGM has a large catalogue of more than 4 thousand films. Many cult movies such as 12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Stargate, Thelma & Louise, Tomb Raider also belong to this catalogue.
In addition, the company’s productions include television series such as Fargo, The Handmaid’s Tale, and Vikings. Will we see all of these TV shows and movies on Amazon’s Prime Video after the purchase is complete, frankly, the answer to this question is not yet known. However, many productions are currently available on other platforms. We look forward to how the acquisition will change these balances.
But this news doesn’t mean that Amazon buys MGM completely. Because the deal is not completely over. We will still have to wait a while for this deal to happen officially. We will try to update this post as soon as possible if something important about this deal happens. Until then, stay home and stay safe everybody!