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Amazon To Buy MGM For $8.45 Billion

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After months and weeks of speculation, Amazon and MGM are merging in a deal that has the e-commerce giant acquiring the storied studio $8.45 billion. It’s the first groundbreaking deal in a long anticipated marriage of the era’s big tech players and Hollywood, sparked by a digital revolution in content and the explosion of streaming.

“MGM has a vast catalog with more than 4,000 films—12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons—as well as 17,000 TV shows—including Fargo, The Handmaid’s Tale, and Vikings—that have collectively won more than 180 Academy Awards and 100 Emmys,” said Mike Hopkins, senior VP of Prime Video and Amazon Studios. “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.”

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