MGM (Metro-Goldwyn-Mayer) is a film studio that owns many movie brands such as ‘James Bond’, ‘The Hobbit’, ‘Rocky’, ‘Creed’… Variety reported that representatives of Amazon and MGM officially announced that the two firms had come to an agreement on a merger agreement. Amazon will acquire MGM for $8.54 billion.
According to the two companies, with this deal, Amazon will help “preserve the legacy of MGM and its film inventory” and provide customers with a more dynamic channel to access works by MGM. perform. Due to the impact of the epidemic, the latest installment of the James Bond franchise, titled No Time to Die, has yet to be released. Photo: MGM. MGM is one of Hollywood’s oldest film studios, dating back almost a century. Its resources include more than 4,000 feature titles and approximately 17,000 hours of TV content. The globally famous movie brands produced by MGM must be mentioned: James Bond , The Hobbit , Rocky , Creed , RoboCop , The Pink Panther , Stargate , Silence of the Lambs … MGM is also the name behind the hit TV series like Fargo , Vikings , The Handmaid’s Tale … and programs The Voice , Survivor , Shark Tank … Over the years, the face of the Hollywood film industry has been changing rapidly in the direction of many veteran studios merging into part of multimedia corporations. Disney owns 20th Century Fox, Marvel Studios, Lucasfilm and Pixar; WarnerMedia merged with Discovery and now Amazon buys MGM. The deal with MGM is the second-biggest deal Amazon has ever made. In 2017, the company spent $ 13.7 billion to buy Whole Foods. Amazon did not specify when the MGM merger process will be completed. However, internal sources said that it is likely that the buying and selling process will end at the end of 2021. The figure of 8.54 billion that Amazon spent to buy back MGM includes debts up to now. After the merger was completed, MGM continued to operate as a subsidiary of the Amazon brand. MGM’s merger with Amazon is Hollywood’s latest studio acquisition. Earlier, on May 17, AT&T announced it had sold WarnerMedia to Discovery for $43 billion. From here, WarnerMedia will join forces with Discovery to create “an independent and pioneering global entertainment business”.
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