James Bond has a new home: Amazon and Metro-Goldwyn-Mayer (MGM) have officially announced that they have reached a final merger agreement. The tech giant will take over MGM Studios with a filming infrastructure and a library for $ 8.45 billion. The deal marks the second-largest acquisition in Amazon history after the $ 13.7 billion purchase of Whole Foods in 2017.
MGM Studios has nearly a century of filmmaking history and will now become part of Amazon Studios’ Film and Television division to strengthen Amazon’s position in the entertainment industry. MGM Studios has a catalog of over 4,000 films and 17,000 different television shows, including franchises such as The Pink Panther, Rocky and Robocop. The studio also owns the rights to the James Bond series, including future projects. Other notable works include the series Fargo, Vikings, and The Handmaid’s Tale.
The sale of MGM Studios follows AT&T’s decision to spin off WarnerMedia’s business and merge it with Discovery. It is now the second largest media conglomerate by revenue in the world after The Walt Disney Company. Amazon spends billions of dollars on content every year, but its media business is still a small part of the overall empire. The deal will help boost interest in the Amazon Prime streaming service by giving users greater access to exciting content.
MGM Studios is currently preparing to release Ridley Scott’s House of Gucci based on Sarah Gay Forden’s House of Gucci: A Sensational Story of Murder, Madness, Glamor and Greed. Additionally, work is underway on the next film by Paul Thomas Anderson, tentatively titled Soggy Bottom, and an adaptation of Project Hail Mary by the author of The Martian.
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