Amazon will soon be closing a $9 billion deal to acquire MGM studios, co-owners of James Bond and other iconic Hollywood franchises.
MGM studios set itself up for sale at the end of last year, pricing itself at just over $5 billion. After 97 years, Metro-Goldwyn-Mayer is feeling the weight of must-have content anywhere, anytime, and has been struggling to compete with big streamers.
MGM studios also have a huge release coming up later this year, Daniel Craig’s No Time To Die, which was delayed due to the pandemic. Ever since, the studio has explored selling the title to Apple and Netflix, but neither could agree on a price.
Luckily for them though, Amazon was ready to acquire a new Infinity Stone in its marketplace gauntlet. Amazon will be buying MGM for an estimated $9 billion, with an announcement possibly coming this week. This would mark Amazon’s biggest acquisition since 2017.
This also means Amazon would hold the keys to the James Bond and Rocky franchises, as well as The Hobbit, Legally Blonde, The Pink Panther, and Stargate – not to mention a handful of TV shows, like The Handmaid’s Tale, The Real Housewives, The Voice, and Shark Tank.
In total, MGM owns 4,000 film titles and 17,000 hours of television, so there’s no doubt that Amazon and MGM would make a powerful combo moving forward.