Amazon Acquires Legendary MGM Studio for $8.45 Billion
Amazon purchases MGM in an $8.45 billion deal to boost Prime Video with thousands of classic films and shows. The acquisition gives Amazon control over major franchises like James Bond and Rocky.
Amazon acquires legendary studio MGM for $8.45 billion in a massive deal that shakes up the streaming landscape. The two companies announce a definitive merger agreement that brings the historic 1924-founded studio under Amazon's corporate umbrella. This move pairs MGM's vast library with Amazon Studios, which traditionally focuses on television programming.
The acquisition gives Amazon Prime Video access to an enormous catalog of over 4,000 movies and 17,000 TV shows. Amazon states that it plans to preserve MGM's heritage while providing customers with greater access to these beloved existing works. This massive injection of content represents a significant way for Amazon to supercharge its streaming service against fierce competitors.
Beyond simply hosting classic films, Amazon plans to mine famous MGM properties to create new original content. The tech giant now controls iconic franchises like James Bond, the Pink Panther, and Rocky. These valuable intellectual properties offer Amazon tremendous opportunities to develop fresh spinoffs, reboots, and exclusive series for its platforms.