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Amazon And MGM Finalize $8.5 Billion Merger

Photo by Thibault Penin via Unsplash

Amazon And MGM Finalize $8.5 Billion Merger

By Movieguide® Contributor

Amazon and MGM recently made their $8.5 billion merger official. 

“The storied, nearly century-old studio — with more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards — will complement Prime Video and Amazon Studios’ work in delivering a diverse offering of entertainment choices to customers,” Amazon wrote in a statement. 

Chris Brearton, chief operating officer of MGM, echoed Amazon’s statement.

“We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family,” Brearton said of the merge. “MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come.”

The companies have not yet clarified what leadership will look like now that the merger has been finalized, but reportedly, Amazon Studios head Jennifer Salke will oversee the combined companies. 

MGM will bring Amazon a catalog of over 4,000 movies and 17,000 TV shows, including the JAMES BOND and ROCKY franchises and blockbusters like LEGALLY BLONDE, THE SILENCE OF THE LAMBS, and POLTERGEIST. 

Movieguide® previously reported on the merger and the companies’ plans:

After Amazon’s deal with MGM, which reportedly sold at $8.45 billion, the company looks to grow its streaming service. 

To discuss plans for Amazon Prime and a healthy library of new content acquired from MGM, Amazon Studios chief Jennifer Salke and her boss Mike Hopkins held a town hall meeting.

“They expressed how good this will be for Prime customers and growing their entertainment portfolio,” an employee who attended the hearing told The Hollywood Reporter. “And they intend to do theatrical. How this plays out relative to which titles is unclear.”

Hopkins revealed that Amazon Prime Video and Amazon Studios is still working through what they bought in the deal—including 4,000 movie titles and 17,000 TV shows which the company “plan to reimagine and develop.” 

Despite the deal, some industry experts predict that MGM will continue to work on movies for the time being. 

One example is the continuation of the James Bond franchise and the studio’s 2021 theatrical lineup. 

“Fox didn’t stop working on movies when Disney said it was buying them,” one producer said, according to THR. “The same will go for MGM.”

 

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