Amazon Purchases Hollywood Workshop Story Tv Collection Historic MGM Mike Hopkins For $8.45bn.
Amazon has agreed to buy the historic MGM studios for $8.45bn (£5.97bn). MGM is one of Hollywood's maximum well-known studios, having produced conventional films inclusive of a few love it hot and singin' inside the rain.
The sale will give the tech massive's prime streaming carrier admission to a massive returned catalog of content material. An amazon govt said on Wednesday: "it's exhilarating and presents so many possibilities for superb storytelling."
Mike Hopkins, senior vice chairman of high video and amazon studios, brought: "the actual monetary price at the back of this deal is the treasure trove of intellectual belongings in the deep catalog that we plan to re-imagine and broaden. Collectively with MGM's talented team."
The deal will boost amazon's top video's providing about 4,000 films, along with the James bond franchise and legally blonde, as well as 17,000 television shows such as the handmaid's story tv collection.
MGM Holdings, the parent company of MGM studios, had reportedly been exploring a sale because 2020. Amazon stated in an assertion that the deal might permit MGM, based in 1924 and recognized by its roaring Leo the lion brand, "to continue to do what they do fine: tremendous storytelling."
Streaming shake-up
Kevin Ulrich, chairman of the board of directors of MGM, stated: "I am very proud that MGM's lion, which has long evoked the golden age of Hollywood, will preserve its storied records. "the opportunity to align MGM's storied historyMGM's amazon is an inspiring combination."
However, amazon's streaming carrier now faces a long list of competition, including Netflix, disney+, and apple television - all hoping that any binge-looking conduct developed during lockdown will stick.
Image captionamazon studios are looking to build on the achievement of some of its original movies, including the Oscar-winner sound of metallic
"Amazon is looking to emerge as a more outstanding player in the leisure world.