Amazon and MGM agree to merge together? Here's what you should know
Amazon and MGM have come up with a merger agreement and announced their final merge.
FollowAmazon buys MGM (Metro Goldwyn Mayer) at the cost of $8.45 billion. MGM has a vast catalogue of 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 many others over the century. Amazon promises to keep the heritage with. Amazon Prime was mostly made to showcase TV shows. With this merging, Amazon will keep MGM's heritage.Â
Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios, told media, "The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM's talented team. It's very exciting and provides so many opportunities for high-quality storytelling."
On the other hand, MGM's chairman said, as reported in Bollywood Hungama, "It has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer. To get here took immensely talented people with a true belief in one vision. On behalf of the Board, I would like to thank the MGM team who have helped us arrive at this historic day."
Kelvin Ulrich, the Chairman of MGM, further said, "I am very proud that MGM's Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM's storied history with Amazon is an inspiring combination."
