Amazon and Metro Goldwyn Mayer-MGM have entered into a merger agreement. As per the agreement, Amazon will acquire MGM for a price of $8.45 billion. MGM is known to have a century-old experience in filmmaking, and Amazon Studios has mostly focused on TV show programming. Through this acquisition, Amazon will help preserve MGM’s legacy and catalog of films and thereby provide viewers with greater access to their existing content. To be fair to MGM, Amazon shall give them a free hand in doing what they do best, great storytelling. According to Mike Hopkins, Senior Vice President of Amazon Studios and Prime Videos, MGM offers a vast catalog of more than 4000 films like James Bond, The Pink Panther, Silence of The Lambs, The Thomas Crown Affair, Robocop, and a lot more. They also have 17000 TV shows like Vikings, The Handmaid’s Tale, and Fargo, all of which have collectively won them more than 180 Academy Awards and 100 Emmys. He added that the real financial value of the deal is the treasure trove of IP in the deep catalog that they plan to create together with MGM’s talented and experienced team. Kevin Ulrich, the Chairman of the Board of Directors at MGM, said that he was very proud that MGM’s lion will continue its storied history with Amazon and called it an inspiring combination.
