It’s Official: Amazon Buys MGM For $ 8.45 Billion

Amazon: After a series of rumors about negotiations between Amazon and MGM Studios, the news is finally official. Amazon closed the deal and bought the film and TV company for $ 8.45 billion (about R $ 45 billion in the current conversion). It is the second largest investment by Jeff Bezos’ company, second only to the acquisition of Whole Foods, purchased for $ 13.7 billion.

The acquisition is a step by Amazon to compete with other major streaming services, such as Netflix and Disney +. Senior Vice President of Prime Video and Amazon Studios, Mike Hopkins, said in a statement that the purchase will provide customers with greater access to MGM’s work and enable the studio “to continue its great narrative”.

“The real value behind this agreement is the treasure driven by intellectual property from the catalog fund that we plan to reimagine and develop with the talented MGM team. It is very exciting and gives us several opportunities for high quality storytelling ”.

The purchase is a major acquisition for the e-commerce giant. That’s because MGM has a long list of classic and famous productions in its portfolio, including The Hobbit, 007, Stargate, Rocky and Robocop. In addition, the Hollywood studio also owns successful series, such as The Handmaid’s Tale and Vikings, and owns the rights to popular reality shows, including Shark Tank and The Voice. In total, Amazon’s streaming is expected to earn about 4,000 movies and 17,000 hours of TV production.

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