Amazon will acquire iconic entertainment company MGM for $8.45 billion. The companies say that MGM’s nearly 100 years of filmmaking “complements the work of Amazon Studios, which is primarily focused on producing TV show programming.”
The online retailer promises to “help preserve MGM’s heritage and catalog of films, and provide customers with greater access to these existing works.”
MGM Factbox
* Owns one of the world's deepest libraries of premium film and TV content
* The MGM library includes James Bond, Creed, Rocky, Legally Blonde, Tomb Raider, Robocop and more.
* The upcoming MGM film slate includes anticipated titles like House of Gucci, No Time to Die and The Addams Family 2.
* MGM TV shows include The Handsmaid's Tale and Vikings.
“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.”
Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios
Amazon hasn’t said how theatrical releases would be handled. However, James Bond franchise producers say they are “committed to continuing to make James Bond films for the worldwide theatrical audience.” Barbara Broccoli and Michael G. Wilson released the statement to Variety today.
The 25th James Bond film will be released in cinemas globally October 8, 2021.
“They’re not in the media business. They’re in the Prime business.”
Barry Diller told CNBC last week that Amazon “is in a different world than anyone else. They’re not in the media business. They’re in the Prime business.” Amazon cares only if you subscribe to Prime. Not necessarily putting “[butts] in seats” for their movies and television content.
