Amazon will buy Metro Goldwyn Meyer (MGM) for $ 8.45 billion by signing a merger agreement. Amazon Is Buying MGM For $8.45 Billion.
Looks like the biggest company is buying the one of the oldest company in field of entertainment. By this we can assume many great news are come to come regarding Amazon prime.
Amazon Is Buying MGM For $8.45 Billion
MGM has a history of nearly a century of filmmaking and is a complement to Amazon Studios, which focuses primarily on TV production. According to the two companies , Amazon is helping to preserve MGM’s legacy and movie list and provide more access to the company’s existing works, including the Amazon Prime service.
MGM is Amazon’s second-largest acquisition after buying $ 13.7 billion from Hull Foods Chain Stores in 2017. However, Amazon has not yet announced when the agreement between the two companies will be concluded. Depending on regulatory approvals and other conditions.
Metro Studio Goldwyn Meyer has well-known titles such as Pink Panther, Rocky and, of course, James Bond. The deal follows AT&T’s decision to expand Warner Media and merge with Discovery, which many analysts predict will usher in a new round of mergers as it engages media companies to deliver the most compelling content possible. .
However, companies that have been quietly reviewing MGM in recent months have been shocked by Amazon’s bid price. They estimate that the value of this studio is about $ 5 to 6 billion, assuming a debt. The reason for this dispute is that MGM owns the rights to the James Bond films jointly with Eon Productions.
MGM under Michael Deluca plans several promising projects in the future, including Ridley Scott’s House of Gucci, Paul Thomas Anderson’s Soggy Bottom, and Project Hail Mary, an adaptation of Andy Weir’s novel starring Ryan Gosling. Has hands.