Amazon has decided to purchase the Metro Goldwyn Mayer (MGM) Studio, which is home to agent 007, James Bond. Both firms jointly revealed the announcement of the merger agreement, which will result in Amazon acquiring MGM for $8.45 billion. Given the company's meteoric rise to prominence as a global brand, the insane figure is unlikely to be overpowering.
The famous lion roaring studio can provide Prime Video something essential on the film front, which they now lack due to their focus on television series at this time. The studio also brings 17,000 television titles to choose from, making for a binge-worthy weekend for consumers. This merger might be a fantastic opportunity for Amazon to bring in MGM studios' array of classics such as "The Silence of the Lambs," "Legally Blonde," "The Handmaid's Tale," "Rocky," and so on. The corporation has more than enough cinematic content to revamp in order to fill up Prime Video even more. Most crucially, Amazon now owns the whole 007 spy film franchise and can help put it to the forefront of streaming services, especially with No Time To Die featuring Daniel Craig due out this year.
"The real financial value behind this deal is the treasure trove of [intellectual property] in the deep catalog that we plan to reimagine and develop with MGM's talented team," said Mike Hopkins, Senior Vice President of Prime Video, when the agreement was announced.
Hopkins also highlighted the studio's outstanding record, including more than 170 Oscars and 100 Emmys in their film and television portfolio. The Metro Goldwyn Mayer studio has experienced its fair share of lows throughout the course of its long history, including a succession of ownership changes and a period when they nearly went bankrupt.
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