Amazon has closed an agreement of $8,500 million dollars to acquire MGM, the company that owns the James Bond franchise, among others, and one of the most iconic film studios in Hollywood history.
The purchase seeks to strengthen the company’s position in the world of entertainment, while providing its streaming service, Amazon Prime Video, with even more movies and shows to fill out its already extensive library.
This should help Amazon compete harder with rivals like Netflix and Disney+ in the highly competitive streaming market.
The deal, first announced in May, brings MGM and its more than 4,000 movies and 17,000 television shows to Amazon.
The James Bond franchise is the largest of MGM’s properties, which has amassed billions of dollars in profits over the years. last years. The affable British spy’s latest film, ‘No Time to Die,’ has grossed more than $770 million dollars worldwide since its release in October.
“MGM has a nearly century-long legacy of producing exceptional entertainment, and we share its commitment to bringing a wide range of original movies and television shows to a global audience,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios, according to CNN.
MGM is also home to other notable franchises, such as ‘Rocky’, ‘ The Handmaid’s Tale’, ‘RoboCop’, ‘Legally Blonde’ and the Epix television network.
The deal was closed without any problem with the Federal Trade Commission (FTC). English). And it is that in July it was reported that the regulator could go against the agreement. Despite this belief, Amazon certified to the FTC that it had provided all the information requested by antitrust investigators, and a deadline was set for the agency to file any legal challenge in mid-March.
The European Union’s antitrust commission also approved the deal, saying Amazon’s purchase of MGM would not raise competition concerns.
Beyond its list of movies and shows, another incentive for Amazon to buy MGM is to help this company keep up with other platforms streaming.
You may also be interested in:
– Netflix could soon make you pay if you share your password with friends and family
– Netflix will air Volodymyr Zelensky’s most popular series: ‘Servant of the People’
– When does ‘Elite’ season 5 premiere on Netflix?