Amazon to Acquire MGM, For $8.45 Billion

Amazon (NASDAQ: AMZN) is to acquire filmmaking giant MGM, for a purchase price of $8.45 billion. 

Completion of this transaction is subject to regulatory approvals and other customary closing conditions.

MGM complements the work of Amazon Studios, which has primarily focused on producing TV show programming. Amazon will help preserve MGM’s catalog of films, and provide customers with access to these existing works.

MGM has a catalog with more than 4,000 films—12 Angry Men, Basic Instinct, 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 many other icons—as well as 17,000 TV shows—including Fargo, The Handmaid’s Tale, and Vikings—that have collectively won more than 180 Academy Awards and 100 Emmys,” said Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios.

FinSMEs

26/05/2021