Amazon and MGM today announced that they have entered into a definitive merger agreement under which Amazon will acquire MGM for a purchase price of $8.45 billion. MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming. Amazon will help preserve MGMтАЩs heritage and catalog of films and provide customers with greater access to these existing works. Through this acquisition, Amazon would empower MGM to continue to do what they do best: great storytelling.
тАЬMGM has a vast catalog with more than 4,000 filmsтАФ12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other iconsтАФas well as 17,000 TV showsтАФincluding Fargo, The HandmaidтАЩs Tale, and VikingsтАФthat have collectively won more than 180 Academy Awards and 100 Emmys,тАЭ said Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios. тАЬThe real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGMтАЩs talented team. ItтАЩs very exciting and provides so many opportunities for high-quality storytelling.тАЭ
тАЬIt has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer. To get here took immensely talented people with a true belief in one vision. On behalf of the Board, I would like to thank the MGM team who have helped us arrive at this historic day,тАЭ said Kevin Ulrich, Chairman of the Board of Directors of MGM. тАЬI am very proud that MGMтАЩs Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGMтАЩs storied history with Amazon is an inspiring combination.тАЭ
Completion of this transaction is subject to regulatory approvals and other customary closing conditions.
BOLLYWOOD NEWS
Catch us for latest Bollywood News, New Bollywood Movies update, Box office collection, New Movies Release , Bollywood News Hindi, Entertainment News, Bollywood News Today & upcoming movies 2020 and stay updated with latest hindi movies only on Bollywood Hungama.
