Amazon agrees to buy MGM at $8.45 Billion : Bollywood News – Bollywood Hungama

May 26, 2021

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Amazon and MGM right now introduced that they’ve entered right into a definitive merger settlement below 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 larger entry to these present works. Through this acquisition, Amazon would empower MGM to proceed to do what they do greatest: nice storytelling.

“MGM has a vast 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,” mentioned Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios. “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.”

“It has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer. To get here took immensely talented people with a true belief in one vision. On behalf of the Board, I would like to thank the MGM team who have helped us arrive at this historic day,” mentioned Kevin Ulrich, Chairman of the Board of Directors of MGM. “I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM’s storied history with Amazon is an inspiring combination.”

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