Online Retailer Amazon Buys MGM Studios For $ 8.45 billion

Amazon Buys MGM Studios For $ 8.45 billion. image: Pexels

Online Retailer Amazon Buys MGM Studios For $ 8.45 billion.

It was just a few days ago that the rumour of the possible purchase of MGM Studios by Amazon began- it was even said that Apple was also interested in acquiring the studio behind franchises like James Bond and Rocky. Now, however, it’s official: Amazon has acquired MGM Studios for $ 8.45 – €6.93 billion

This purchase indicates that Amazon would be acquiring a catalog of more than 4,000 movies and 17,000 television series, in order to give greater weight to the catalog of originals that are in Prime Video. Some of the franchises that will now also be under the arm of Amazon will be the Pink Panther, Rocky, Creed, The Handmaid’s Tale, and James Bond.

The deal focused on Amazon’s television with MGM’s new historic filmmaking, which has claimed other profitable series such as “Rocky” and “Pink Panther” since its inception in 1924. The purpose is to strengthen the studio.

Streaming video helps the world’s largest online retailers attract consumers, sign up for Prime, a fast-delivery club, and shop more when they become members. Privately held MGM, or Metro-Goldwyn Mayer, also owns the Epix cable channel and produces popular TV shows such as “Fargo,” “Viking,” and “Shark Tank.”

Jeff Bezos, Amazon’s founder, laid out the rationale for the deal at the company’s annual shareholder meeting on Wednesday.

“MGM has a vast, deep catalog of much-beloved intellectual property,” he said. “With the talented people at MGM and the talented people at Amazon Studios, we can reimagine and develop that IP for the 21st century.”

Bezos said it was “premature” to name Amazon Studios as the fourth pillar of the company after its seller marketplace, cloud division and Prime, but it was working toward that milestone. More than 175 million Prime members watched content on Amazon in the past year, and streaming hours were up 70%, he said.

July 5 – the day Amazon was incorporated in 1994 – will be the date long-time cloud chief Andy Jassy takes over as CEO, Bezos said.

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Ron Howells

Ron actually started his working career as an Ophthalmic Technician- things changed when, during a band rehearsal, his amplifier blew up and he couldn’t get it fixed so he took a course at Birmingham University and ended up doing a degree course. He built up a chain of electronics stores and sold them as a franchise over 35 years ago. After five years touring the world Ron decided to move to Spain with his wife and son, a place they had visited over the years, and only bought the villa they live in because it has a guitar-shaped swimming pool!. Playing the guitar since the age of 7, he can often be seen, (and heard!) at beach bars and clubs along the length of the coast. He has always been interested in the news and constantly thrives to present his articles in an interesting and engaging way.


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