Amazon announces the recent acquisition of MGM
The global e-commerce giant, Amazon, recently announced its acquisition of the famous American film production company MGM, known through its Hollywood work, after a short period of negotiations and press leaks on the subject, so that Amazon launched its entry into this field strongly.
Amazon announced the acquisition of the famous American film production company MGM for an amount of $ 8.45 billion, as Amazon stressed in its statement that the company will help preserve the heritage of MGM films and its catalog, and provide customers with easier access to these current businesses. The real deal is in the treasure trove of intellectual property catalog that we plan to re-imagine and develop with the talented team at MGM. It’s very exciting and offers many opportunities to tell stories of great quality. ”
And a number of American media outlets, citing The Information and Variety, had indicated at the beginning of last week, that Amazon officials are in serious negotiations with representatives of the famous American film studio MGM in order to acquire it, and MGM is known to have produced many reference films in Hollywood history and world cinema in general, especially James Bond, Rocky, Stargate, Robocop and others.
The same sources indicated that Amazon had proposed to MGM an astronomical sum of up to 9 billion dollars in order to acquire it, and according to Variety, the amount of 9 billion dollars is the amount that it was seeking to reach, and it is clear that the main purpose of Amazon to acquire MGM is Promote and strengthen the offer available in its service for live and streaming on demand Prime Video, especially in light of the competition with Netflix.