Jeff Bezos now owns Leo the Lion.
Yesterday, it was announced that Amazon has acquired MGM for $8.45 billion. This means that Amazon will now have access to 4,000 movies and 17,000 TV shows for its streaming service Prime Video,. Some of the properties that Amazon now controls includes Pink Panther, Rocky, James Bond, Vikings, Legally Blonde, and The Handmaid’s Tale.
Mike Hopkins, senior VP of Prime Video and Amazon Studios, said in announcing the deal:
“The real financial value behind this deal is the treasure trove of [intellectual property] in the deep catalog that we plan to reimagine and develop together with MGM’s talented team. It’s very exciting and provides so many opportunities for high-quality storytelling.”
Amazon’s offer was reportedly 40% higher than the next best one. This makes sense as others in the industry valued MGM around $5 to $6 billion with the assumption of some debt. This “was due in part to the fact that MGM shares the rights to the Bond franchise with Eon Productions. That company, which is run by half-siblings Barbara Broccoli and Michael G. Wilson, has an unusual amount of control over the spy series — with rights to approve everything from marketing to casting and from distribution to ancillary projects.” Variety adds that this means it might be difficult to have future Bond films debut as Prime Video exclusives.
I’m sort of iffy on this whole merger. I think Amazon has its hands in enough cookie jars. But I may be biased considering I’m not a fan of Bezos. And I’m pretty anti-streaming services when it comes to them destroying things like the theatrical experience.
So yeah, I’m interested to hearing what everyone’s thoughts and opinions are on this deal.
Have at it screenagers! What do you think of the Amazon-MGM merger?