Amazon is totally upending the entertainment industry by buying the movie studio and TV network MGM in an $8.45 billion deal. Amazon buys MGM for $8.45 billion. The acquisition includes a diverse library of over 5,000 titles and ancillary assets that enhance Amazon Prime Video’s growing lineup of original programming and content for customers.MGM’s library lives on today as a treasure trove of movie and TV history.
For Amazon, the acquisition represents a huge step toward its goal of offering “around the world’s best video selection.”MGM is the first studio to boast more than 10 billion dollars worldwide at the box office. It boasts some of the most prestigious awards in the industry, including multiple Oscars, Golden Globes, and Emmys, and boasts a library of iconic film franchises such as Bond, Rocky, and The Hobbit.
“We’re adding thousands of movies and TV shows to Amazon Prime Video, making memorable MGM content available to everyone, at no additional cost. This move will be great for customers, who love MGM content and may not have been able to afford the product separately. Thousands of new titles will be coming to the Prime video catalog, from James Bond to Rocky, The Shining, and more.” Said the officials.
Amazon is a global provider of products, services, and solutions in various industries. Lately, they have expanded to online video and have started their own film company, Amazon Studios. Amazon has announced that it’s working on getting the rights to stream thousands of new movies and TV shows. This is great news for Amazon Prime. The merger would establish the availability of thousands of more films and TV shows. Let’s see how the deal goes and if the users like the new combination of both the companies.