Amazon Studios has already donated famous yacht owner Jeff Bezos a big path in the Hollywood media space, between its Prime Video streaming offerings and its major projects for films and television. Very soon, these projects are about to get even bigger as Amazon is about to acquire one of the biggest studios in the market: MGM.
The Wall Street Journal reports that Amazon’s recently announced plans to acquire MGM have taken a major step forward, in a roughly $ 9 billion deal that is one of the e-commerce giant’s largest acquisitions. If the deal goes through, Amazon could formalize its ownership of MGM by the end of this week. Founded in 1924, MGM is a brand of Hollywood as we know it today, one of the first “Big Five” studios of the industry’s golden age alongside RKO Radio Pictures (which bankrupted in the 1950s), 20th Century Fox (now of course owned by disney), Paramount Pictures (now part of ViacomCBS), and Warner Bros., which was created by owner AT&T last week in a merger with Discovery.
The acquisition of MGM and its extensive catalog of films and shows, which includes classics like the James Bond franchise, Robocop, and more, alongside TV projects like Stargate and The Handmaid’s Tale– will offer a huge boon to Amazon’s Prime Video streaming offerings, as the company continues to rely on its original content, throwing away tons of cash at everything from superhero hits such as The boys and Invincible to his To come the Lord of the Rings prequel series. If Amazon’s presence in the streaming space was already significant, owning MGM will simply make it even more dominant.
We’ll bring you more information about Amazon’s plans for MGM as we learn more.
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