Amazon officially bought MGM for $8.45 billion and plans to obtain MGM’s heritage assets and AT&T’s movie catalog.
Amazon officially buys MGM for $8.45 billion
Amazon and MGM officially announced their merger plans.
As of last week, the merger is settled, but now the companies confirm that Amazon MGM, the studio behind the James Bond film franchise, will acquire $8.45 billion.
MGM is a nearly 100-year-old studio with an extensive catalog of films appended to coming of age.
Amazon says it plans to get MGM’s heritage assets and film catalog from AT&T to reunite with the discovery and could be just the beginning of a new round of corporate combination in the entertainment industry as mid-sized companies to compete with Behemoths like Disney and Netflix.
The $8.75 billion Amazon is paying for MGM will surprise some pundits and analysts.
Other companies that showed interest in buying the studio were wary of the high price.
MGM Studios has several major film projects in the works.
It also has a third legally blonde movie in development and a sequel to Tomb Raider movie 2018, the Alicia Vikander with Alicia Vikander, three thousand years of longing, the next film from Ma D Max creator / director George Miller.
Also rumored to be in the works is a reboot of the Pink Panther that would mix live action with animation.