Amazon to buy studio behind James Bond franchise MGM after $8.45 billion deal
MGM's exciting upcoming movies include the long-delayed Bond film No Time to Die.
Amazon has announced it will be acquiring film production and distribution studio MGM for a purchase price of $8.45 billion.
The deal is being seen as a major move by Amazon in terms of its ambition as a streaming service as MGM boasts a vast catalog of more than 4,000 films, as well as 17,000 TV shows.
Most notably the company produces the Rocky and Creed franchises, as well as the James Bond franchise.
Some examples of other movies in MGM's catalogue include 12 Angry Men, Basic Instinct, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther and The Thomas Crown Affair.
Meanwhile, upcoming films from the studio include the long-delayed Bond flick No Time to Die, the Lady Gaga-starring House of Gucci, Aretha Franklin biopic Respect and the untitled Paul Thomas Anderson film with Bradley Cooper.
MGM's catalogue also features TV shows like Fargo, The Handmaid's Tale and Vikings.
Speaking about the acquisition Senior Vice President of Prime Video and Amazon Studios Mike Hopkins said: “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.”
Chairman of the Board of Directors of MGM Kevin Ulrich added: “I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision.
"The opportunity to align MGM’s storied history with Amazon is an inspiring combination.”
Amazon has said in a statement that the completion of the deal is subject to regulatory approvals and other customary closing conditions.
It is unclear at the time of writing if this will impact the release of No Time To Die, currently scheduled by Universal - who has international distribution rights to the movie - to arrive in Irish cinemas on 30 September 2021.