Amazon has definitively agreed to buy MGM for USD 8.45 billion. Amazon said the acquired content will complement the work of Amazon Studios, which has primarily focused on producing TV show programming. The company said it will help preserve MGM’s heritage and catalogue of films, and provide customers with greater access to the existing works, but that the the real financial value behind the deal is the “treasure trove” in the deep catalogue that the company plans to reimagine and develop together with MGM’s team.
MGM has a catalogue of over 4,000 films including 12 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 others. It also owns 17,000 TV shows, including Fargo, The Handmaid’s Tale, and Vikings.
The transaction is subject to regulatory approvals and other customary closing conditions.
