Amazon Buys MGM Studios for $9 Billion

Home Technology Amazon Buys MGM Studios for $9 Billion
Amazon Buys MGM Studios for $9 Billion
Illustration for article titled Amazon Buys MGM Studios for $9 Billion
Photo: Mladen Antonov/AFP (Getty Images)

It’s official folks—Jeff Bezos now owns James Bond. After murmurs earlier this week, Amazon announced today that it had acquired MGM in an $8.45 billion deal that will bolster the e-commerce giant’s Hollywood ambitions.

Advertisement

To be clear, this deal isn’t so much about Amazon competing with other streaming rivals like Netflix, Hulu, or Disney+. This is all about intellectual property, baby. MGM—or that studio with the iconic roaring lion—has a vast catalog of more than 4,000 films, including James Bond, Robocop, Silence of the Lambs, Stargate, Tomb Raider, and The Pink Panther. It also has 17,000 TV shows, including popular series like Fargo and The Handmaid’s Tale. MGM also has several buzzworthy projects lined up, including Ridley Scott’s House of Gucci, the next Bond flick No Time to Die, and an unnamed Paul Thomas Anderson film.

Since 2013, Amazon’s thrown piles of cash at producing its own original content. Case in point, it’s throwing a whopping $465 million at the first season of its forthcoming Lord of the Rings prequel series. Despite all that moolah, you’d probably be a little pressed to remember more than a handful of memorable titles like Transparent, The Marvelous Mrs. Maisel, and The Boys. By snapping up MGM’s most popular IP, Amazon’s banking that you’ll be less likely to cancel your Amazon Prime account, and therefore, your access to Amazon Prime Video.

“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,” Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said in a press release. “It’s very exciting and provides so many opportunities for high-quality storytelling.”