Amazon announced Wednesday that it made a deal to acquire MGM for $8.45 billion to expand its media library.
The MGM acquisition is the second-largest for Amazon after it bought Whole Foods for $13.7 billion in 2017.
Amazon said it hopes to upgrade Amazon Studios with MGM’s catalog of 4,000 films and 17,000 TV shows.
For MGM, Amazon’s acquisition will reportedly help “preserve MGM’s heritage and catalog of films” and provide customers greater access to their IPs.
“The real financial value behind this deal is the treasure trove of IP 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,” said Amazon Studios head Mike Hopkins.
Amazon and MGM said that the acquisition “is subject to regulatory approvals and other customary closing conditions.”
Movies and series included in the MGM deal were “12 Angry Men,” “Basic Instinct,” “Creed” and “Rocky,” “Legally Blonde,” “Moonstruck,” “Poltergeist,” “Raging Bull,” “Robocop,” “Silence of the Lambs,” “Stargate,” “Thelma & Louise,” “Tomb Raider,” “The Magnificent Seven,” “The Pink Panther,” “The Thomas Crown Affair”, and the James Bond series which are expected to become Amazon Prime exclusives.
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