Deals, deals – and more deals. May has ushered in yet another significant business agreement with the announcement of Amazon’s intent to purchase MGM for the jaw dropping sum of $8.45 billion. Regulators and some politicians are not pleased with the potential narrowing of competition – and a closing date has yet to be established. According to Brett Molina’s article in USA Today, regulatory approvals have yet to be finalized.
The deal would be good news for classic movie fans as Amazon intends to have dedicated preservation efforts for MGM’s irreplaceable collections dating back to the 1920’s – including the entire James Bond franchise as well as “Rocky,” “The Philadelphia Story,” “Mrs. Miniver,” and “Father of The Bride.”
“The real financial value behind this deal is the treasure trove of IP (intellectual property) in the deep catalog that we plan to reimagine and develop together with MGM’s talented team,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios. “It’s very exciting and provides so many opportunities for high-quality storytelling.”
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Amazon to buy MGM studio, home to James Bond, ‘Handmaid’s Tale,’ for $8.45 billion
Image courtesy of Aymane Jdidi