AMAZON now owns MGM after $8.45 billion acquisition

Amazon has finalized its acquisition of the popular Hollywood studio, MGM (Metro-Goldwyn-Mayer) for $8.45 billion. The entertainment company has over 4,000 film titles and 17,000 TV episodes and is now part of Prime Video and Amazon Studios.

MGM’s library includes classic films like the James Bond franchise, Rocky, The Silence of the Lambs and Legally Blonde.

“MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios.

“We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers.”

“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,” said Chris Brearton, chief operating officer of MGM. “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.”

Having MGM’s collection on Prime Video will help the company stand out in the streaming battle with giants like Netflix, Disney, Paramount, and Apple TV+.