Amazon acquires MGM Holdings for $ 8.45 billion

Video source: YouTube, CNET Inc (Nasdaq: AMZN) announced on Wednesday that it has reached an agreement to acquire Metro-Goldwyn-Mater Studios’ parent company, private MGM Holdings, for $ 8.45 billion.

so statement The e-commerce giant, who announced the acquisition, said he wants to boost Amazon Studios with MGM’s renowned filmmaking history and a vast catalog of 4,000 movies and 17,000 TV shows. I did.

In addition to franchise rights such as Rocky, James Bond, Robocop and Pink Panther, MGM owns the Epix network and produces TV shows such as “The Handmaid’s Tale”, “Survivor”, “Fargo” and “Shark Tank”. doing. It is also a studio for filming masterpieces such as “The Wizard of Oz,” “Christmas Story,” and “Gone with the Wind.”

“The true economic value of this deal is planned to be revisited and developed with MGM’s talented team,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios. , A treasure trove of deep catalog IP. “

“There are plenty of exciting and quality storytelling opportunities,” says Hopkins.

“The opportunity to match MGM’s renowned history with Amazon is an exciting combination,” said Kevin Ulrich, chairman of MGM.

Amazon is considering acquiring a major entertainment company to expand its business. Streaming service Increase your competitiveness with Netflix and Disney +.

Report The possibility of Amazon’s acquisition of MGM was first revealed in mid-May.

Meanwhile, MGM, which owns United Artists, American International Pictures, Orion Pictures, etc., I am considering selling And in recent years, we have negotiated with some potential buyers.

Its owners include Anchorage Capital, Highland Capital Partners, Davidson, Kempner Capital Management, Solus Alternative Asset Management and Owl Creek Investments. bankruptcy In 2010.

This acquisition is Amazon’s biggest move to expand entertainment content to date and the second largest acquisition in Amazon’s history after purchasing $ 13.7 billion in content. Whole Foods In 2017.

Amazon is also focused on sports content and signed a broadcast contract with the National Football League in March. Thursday night football From 2022.

The acquisition of MGM follows the announcement earlier this month that AT & T will spin off. WarnerMedia Combine it with Discovery Inc to bring HBO, HGTV, Warner Bros, CNN, and Food Network under one roof.

Free trade fees with Tradier Brokerage


Source: Stock news

Source link

Back to top button